Poland prepared if Russia cuts oil supply, has alternative supplies, says minister
Crude oil production
Polish climate minister said on Thursday (December 29) that Poland was ready for the scenario of Russia cutting oil supply in retaliation for adherence to oil price cap. Poland has already cut its intake of Russian crude oil and has secured alternative supplies from countries like Saudi Arabia.
The G7 nations and allies including Poland this month, agreed on USD 60 per barrel price cap on Russian crude oil. Russia has retaliated by saying that it will cut oil supply of countries that adhere to the price cap.
Poland has been gradually reducing its intake of Russian oil, and after the start of the war in Ukraine it stopped buying seaborne Russian oil, top refiner PKN Orlen said. The company says it has secured alternative oil supplies via its partnership with Saudi Aramco.
"We are prepared to process all types of crude oil, this is our advantage," Minister of Climate and Environment Anna Moskwa told a news conference.
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She said that she believed next EU sanctions package will include decision pertaining to ban on Russian oil.
Poland is seeking German support to slap EU sanctions on the Polish-German section of the Druzhba crude pipeline so Warsaw can abandon a deal to buy Russian oil next year without paying penalties, two sources familiar with the talks told Reuters in November.
Earlier this year, Poland and Germany promised to try to end imports of Russian oil via Druzhba's northern leg by the end of year, but Orlen remains tied to its contract with Russian oil and gas company Tatneft.
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"We believe that the next sanctions package will include a decision on oil," Moskwa said. "The sanctions cancel the contract with Tatneft."
(With inputs from agencies)
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