Macron Says Europe’s Russian Energy Imports Are ‘Marginal’ Issue
(Bloomberg) -- French President Emmanuel Macron called the European Union’s remaining energy imports from Russia “very marginal,” challenging Donald Trump’s calls for the bloc to reduce its dependence if it wants the US to step up pressure on Moscow to end the war in Ukraine.
“This is not a key driver today,” Macron said in an interview with CBS’s broadcast Sunday. “We decreased by more than 80% the consumption of oil and gas.”
The US president last week repeatedly called for European allies to stop purchasing Russian oil, suggesting he’d consider additional measures against Russia “but not when the people that I’m fighting for are buying oil from Russia.”
One US proposal that’s been advanced calls for so-called secondary tariffs of as much as 100% on goods from China and India as well as other trade restrictions meant to curb the flow of Russian energy and prevent the transfer of dual-use technologies into Russia.
While the EU as a whole has cut Russian energy imports since President Vladimir Putin’s full-scale invasion of Ukraine in 2022, some member countries remains highly dependent.
Slovakia and Hungary have said they’ll resist pressure from Trump to cut Russian oil imports until the EU finds sufficient alternatives.
The EU has already passed a ban that will prohibit importing petroleum products refined from Russia crude starting next year, and the bloc is discussing banning imports of Russian liquefied natural gas from 2027.
Asked whether he favors further sanctions or tariffs on Russia, Macron acknowledged “it doesn’t just depend on me.”
“If it depends just on me, tomorrow,” he said.
As momentum builds in Europe to expand the use of frozen Russian assets to finance Ukraine, Macron sounded a cautious note.
“Regarding the frozen assets, we are all very much attached to be compliant with international rules,” he told CBS. “And you cannot seize these assets from the central bank even in such a situation.”
Most of the roughly $300 billion in frozen Russian assets are in Europe. European Commission President Ursula von der Leyen suggested this month that the cash balances could be used to provide Ukraine with a “reparations loan.”
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