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EU leaders tackle escape route from Russian fossil fuels -Breaking

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© Reuters. FILE PHOTO A model of the natural-gas pipeline can be seen in front displayed words EU and Russia flag colors in this illustration, taken on March 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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By Kate Abnett

BRUSSELS, (Reuters) – European Union leaders will discuss ways to get rid of Russian fossil fuels and how to do it quickly. There are split countries over who should sanction oil and gas imports while Moscow wage war on Ukraine.

After Russia invaded Ukraine, Brussels announced plans to decrease reliance upon Europe’s largest gas supplier and to end this dependence within a decade.

A two-day summit will discuss how these plans can be implemented and also finance.

Reuters has seen a draft of the summit declaration. It would allow the EU to reduce its dependence on Russian oil, gas and coal imports. This could include increasing liquefied energy imports, and speeding the deployment of renewable energies. The date of the end was not established.

An EU official stated that some people are asking for 2030 while others are asking for 2027. Some are even saying they are now, in reference to member countries.

Russia supplies 40% of all the EU countries’ collective gas needs. Russia imports 27% oil and 46% coal.

The Russian gas flow to Europe has continued to increase steadily since Russia’s invasion. However, Moscow warned that Western sanctions could force it to shut down a significant gas pipeline.

EU leaders will also discuss contingency plans in case of supply interruptions.

Kadri Simon, EU chief for energy policy said that it was impossible to exclude Russia from taking retaliatory measures.

While the United States is less dependent on Russian energy, it banned Russian oil and gas imports on Tuesday. The EU, however, has so far focused on banks and oligarchs. It also banned Russian planes from EU airspace, and stopped technology exports.

All 27 members would need to approve, but EU officials claim that the position of German Chancellor Olaf Scholz (who rejects energy imports) is supported by all other countries.

Russia sends Germany 18% of its gas and Russia 11% of their oil.

Viktor Orban, Hungary’s prime minister, stated that “while we condemn Russia’s Armed Offensive and War, but we won’t allow Hungarian Families to pay the penalty,” he said. Orban was opposing the energy sanctions. Russia is the main source of oil and gas for Hungary.

Some countries believe that Russia must cease paying Europe hundreds of millions of euro per day to get fossil fuels.

According to a Polish diplomat, “Billions flow to Russia via Nord Stream 1”, referring specifically to a gas pipe from Russia to Germany. Today, the Ukrainians have to pay billions of dollars for these gas pipelines.

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