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German legislator hits out at EU’s 'absurd' price cap on Russian energy

It is reported that Germany is also going to completely shun Russian oil, which the refinery in Schwedt is utterly dependent on

BERLIN, December 15. /TASS/. Speaking to TASS, Chairman of the Committee for Economics and Energy in the Bundestag (Germany’s federal parliament) Klaus Ernst castigated the West’s price cap on Russian oil warning that it would trigger hikes on this commodity, while slamming the regulations as absurd.

"It is absolutely obvious that when a ceiling on energy prices is introduced, then whoever is targeted by these measures reduces the supply. Clearly, it will be counterproductive because the price will rise. In this regard, I consider [such restrictions] to be absurd," the lawmaker emphasized.

Germany is also going to completely shun Russian oil, which the refinery in Schwedt is utterly dependent on, the politician noted. "This sort of policy is self-destructive," Ernst insisted. "The EU consciously exempted pipeline oil supplies from sanctions. The government rejects them, even though there is no need to do so. This kind of policy is aimed against its people," he maintained.

On December 5, an embargo on maritime Russian oil shipments to the European Union came into force.

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