The German economy ministry wants to halve the country's dependence on Russian oil by summer and stop importing Russian hard coal by autumn, Der Spiegel magazine reported, citing a ministry memorandum.

Spiegel, citing ministry sources, said that despite progress, an immediate embargo would have too serious economic and social consequences.

According to the publication, ministry officials selected three floating liquefied natural gas terminals.

The German government is currently exploring possible locations in the North and Baltic Seas where they could be used in the short term – in some cases as early as the winter of 2022/23, the statement said.