German Economy Minister Robert Habeck said on Monday that Germany can bear an EU-imposed ban on oil imports from Russia by the end of this year, although stopping imports may result in a supply shortage, and he seemed to throw his weight behind the ban.

Two EU diplomats earlier said that the bloc is leaning towards imposing a ban on Russian oil imports by the end of this year as part of a sixth package of sanctions imposed on Russia since the start of the military operation in Ukraine.

Energy ministers from EU countries are scheduled to discuss the proposed ban in Brussels later today.

Habeck said at a press conference: “We were able to reach a solution that enables Germany to bear the oil ban.. and it will not be without consequences.”

Last month, Germany reduced Russia's share of its total oil imports to 25 percent from 35 percent before the war.