Germany will halt imports of Russian oil by the end of this year

Germany’s foreign minister says oil will be halved by the summer and says it will be at zero by the end of the year.

The minister also pointed out that gas will soon follow.

Germany currently buys a quarter of its oil and 40 per cent of its gas from Russia.

The country have warned that it could face a recession if supplies suddenly stopped.

This follows the US already banning Russian oil imports.

Meanwhile the UK is in line with Germany and plans to phase them out by the end of the year.

Germany has already called off the opening of Russian gas pipeline, Nord Stream 2, in response to the war.

German economic institutes warned that immediately halting Russian imports would spark a sharp recession in Europe’s biggest economy by next year.