It’s a last-ditch pitch from the EU. With out assist for extra power sanctions, and with some officers even discussing an eventual return to gas from Moscow, Brussels is more and more looking for different choices. There’s additionally U.S. President Donald Trump, who has publicly toyed with lifting America’s hard-hitting Russia restrictions.
So the EU is popping to the market, trying to ship a long-term sign that Brussels is dedicated to leaving Russian gas for good. No turning again.
“Regardless of the numerous discount of the dependency on Russian fossil fuels within the final years, we have been nonetheless importing 19 p.c of Russian gasoline in 2024,” EU power chief Dan Jørgensen stated forward of the plan’s launch. “This compromises our power safety, exposing us to financial blackmail and manipulation.”
“The roadmap will assist the EU regain power independence from Russia,” he instructed POLITICO.
However the market could not chew. There’s already chatter that firms will begin pumping extra Russian gas throughout Europe the second it’s legally attainable and politically palatable.
“The remaining urge for food for Russian power is pushed by price concerns,” stated Maria Shagina, a sanctions skilled on the Worldwide Institute for Strategic Research. “EU member states are involved about competitiveness and deindustrialization, so low-cost Russian power in opposition to the background of a looming peace deal turns into enticing once more.”
