EU Eyes Ban on ALL Russian Gas Imports
EU gas imports from Russia have plunged 71% since 2021, with Norway and the United States now serving as the bloc's top gas suppliers.
This dramatic shift comes amidst the ongoing war in Ukraine and the EU's efforts to reduce its dependence on Russian energy, The Kiyv Independent has reported.
"EU gas prices have dropped significantly and are now hovering around 25 euros per megawatt hour, showing relative stability," according to EU Energy Commissioner Kadri Simson. This price stability is partly due to the diversification of gas suppliers.
At a recent meeting of the Energy Council in Brussels, discussions focused on new ways to curb imports of Russian liquefied natural gas (LNG). While the EU has not yet imposed sanctions on Russian LNG, some member states, like Latvia and Lithuania, have already stopped buying it altogether. An agreement reached by the EU in December 2023 allows member states to essentially ban Russian LNG imports, paving the way for a potential bloc-wide ban.
"We must end this year with even lower levels of Russian gas in our system compared to last year," declared Simson, highlighting the EU's commitment to further reducing its reliance on Russian energy. This push for energy independence is also driven by a desire to cripple Russia's ability to finance its war in Ukraine, as oil and gas profits make up a significant portion of the Russian economy.
The EU's move away from Russian gas is a significant development with far-reaching consequences. It will likely impact global energy markets, strengthen European energy security, and put further pressure on the Russian economy.
Translation by Iurie Tataru
