Germany to stop buying Russian coal in August and oil in December

Germany will completely stop buying Russian coal on August 1 and will stop buying Russian oil on December 31, German Deputy Finance Minister Jörg Kokes said at a conference in Sydney, marking a major shift in the country's energy supply.

"We will stop buying Russian coal in a few weeks," Cookies said at the Sydney Energy Forum, which is co-hosted by the Australian government and the International Energy Agency.

 He added that Russian coal previously constituted 40 percent of the German coal mixture, while Russian oil constituted 40 percent of the country's oil mix.

 He stated that Germany is rapidly developing terminals to import LNG to help fill the gas supply gap, but he stressed that while the United States and Qatar can together provide about 30 billion cubic meters of gas in LNG to Europe, that leaves a large gap.