EU officers on Tuesday outlined a plan to realize power independence from Moscow “nicely earlier than 2030.” The European Union would begin by decreasing demand for Russian pure gasoline by two thirds this 12 months. These plans will likely be mentioned at an emergency summit of EU leaders in France on Thursday.
“We should turn out to be unbiased from Russian oil, coal and gasoline,” European Fee President Ursula von der Leyen stated in a press release. “We merely can not depend on a provider who explicitly threatens us.”
The European Union is dependent upon Russia for about 40% of its pure gasoline. Russia additionally provides about 27% of the 27-country bloc’s oil imports, and 46% of its coal imports. Taken collectively, that commerce is price tens of billions of {dollars} a 12 months to Russia, serving to to finance President Vladimir Putin’s warfare effort.
Frans Timmermans, EU local weather coverage chief, stated the warfare in Ukraine underscored the pressing have to speed up the transition to scrub power. Europe may change 100 billion cubic meters of Russian gasoline imports by the tip of 2022, he added.
“That’s two thirds of what we import from them,” he instructed reporters. “Two thirds by the tip of this 12 months. It is arduous, bloody arduous however it’s doable if we’re prepared to go additional and sooner than we have accomplished earlier than,” he added.
Russia’s huge power exports had been carved out of unprecedented sanctions imposed by the West in response to Putin’s choice to order the invasion of Ukraine.
However the Biden administration on Tuesday introduced an outright ban on all Russian oil, pure gasoline and coal imports. And the UK authorities stated Tuesday it might part out Russian oil imports by the tip of 2022 and discover methods of ending pure gasoline imports too.
EU leaders have made clear this week that the bloc cannot but be a part of america in banning Russian oil, due to the influence that might have on households and companies already grappling with file excessive costs for gas and heating. Europe will get way more of its power from Russia than both america or United Kingdom.
However Europe is aware of it must act quick to scale back the potential for Moscow to make use of power as a weapon within the escalating financial warfare unleashed by the Russian invasion of Ukraine.
Russian deputy prime minister Alexander Novak stated Monday Russia may reduce off the provision of gasoline to Germany through the Nord Stream 1 pipeline in retaliation for Berlin blocking the brand new Nord Stream 2 pipeline venture.
Of their push for power independence, EU leaders have to discover a strategy to safe provides and defend households and companies from hovering costs, whereas on the identical time guaranteeing the bloc meets its local weather targets of slashing carbon emissions by 55% by 2030 and attaining net-zero by 2050.
Along with accelerating the adoption of renewable power, the European Fee’s plan requires tapping various provides, together with shipments of liquefied pure gasoline, boosting manufacturing and imports of biomethane and renewable hydrogen, and upgrading buildings to scale back consumption.
The Worldwide Vitality Company stated final week that Europe may make a giant dent in Russian gasoline imports inside a 12 months, whereas accelerating its shift to scrub power “in a safe and inexpensive means.”
“No one is beneath any illusions anymore. Russia’s use of its pure gasoline assets as an financial and political weapon present Europe must act rapidly to be able to face appreciable uncertainty over Russian gasoline provides subsequent winter,” IEA Government Director Fatih Birol stated.
— CNN’s Angela Dewan, Chris Liakos, Anna Stewart, Boglarka Kosztolanyi and Inke Kappeler contributed to this text.
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