BRUSSELS (AFP) – The EU desires to vastly scale back Russian gasoline imports this yr, a prime official mentioned on Tuesday (March 8), as political strain mounts to sever Russia’s important financial lifeline over its invasion of Ukraine.
The European Commission, the EU’s govt arm, introduced the purpose because the United States was anticipated to impose an oil import ban on Russia in a step thought-about too far for the Europeans, who concern that the financial penalties could be too extreme.
Instead, the fee mentioned it might erase an enormous share of its dependency on Russia by tapping new gasoline provides, ramping up reserves for subsequent winter and accelerating efforts to be extra power environment friendly.
“By the end of this year, we can replace 100 billion cubic metres of gas imports from Russia. That is two-thirds of what we import from them,” EU Commission vice-president Frans Timmermans instructed reporters in Strasbourg, France.
“This will end our over-dependency and give us much needed room to maneuvre,” added Timmermans, who leads EU policy-making on power and local weather change.
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In its plan, the EU mentioned the bloc might turn out to be totally unbiased of Russian gasoline, oil and coal by 2030.
Timmermans urged warning. Russia provides 40 per cent of the EU’s gasoline wants, with Italy, Germany and a number of other central European nations particularly dependent. 1 / 4 of its oil provide additionally comes from Russia.
This reliance has led EU nations to push again towards calls by Kyiv and Washington to severely sanction Russia’s power sector as Western allies search extra methods to hit Russia more durable for its actions in Ukraine.
“The reality is that there’s quite a number of our member states who would get into real trouble if overnight, all the energy would no longer be provided from Russia,” Timmermans instructed MEPs earlier.
“So we need to make sure… we don’t do more harm to ourselves than we do to Putin,” he added.
