Merz Criticizes US Decision to Ease Russian Oil Sanctions
Chancellor Friedrich Merz says easing Russian sanctions is wrong after a US oil waiver. He noted supply is stable as prices hit 101 dollars per barrel.
Germany Chancellor Friedrich Merz stated on Friday that any initiative to soften sanctions against Russia is a mistake. Speaking during a visit to Norway, Merz responded to the United States government's decision to issue a 30-day waiver for the purchase of sanctioned Russian oil products currently held at sea.
At a joint press conference with his Norwegian counterpart, the Chancellor expressed his disapproval of the recent policy shift regarding energy trade.
We believe that is wrong.
Merz argued that the current energy crisis is driven by market costs rather than a lack of physical crude availability.
There is currently a problem with prices, but not with supply.
He further questioned the motivations behind the U.S. administration's decision. The waiver was reportedly issued to mitigate the impact of rising oil and gas prices, which have been exacerbated by the conflict involving the U.S. and Israel against Iran. Despite these efforts, Brent Crude Oil prices remained elevated, climbing back to $101 per barrel by Friday morning.
The regional instability has worsened as Iranian forces targeted vessels in the Strait of Hormuz, nearly halting non-Iranian shipping through the vital corridor. This disruption has forced regional producers to reduce their output. Merz concluded by reaffirming that Germany would not be drawn into the escalating hostilities.
Germany is not part of this war, and we do not wish to become one.