This was confirmed by the spokesman for the European Commission for climate protection and energy, Tim McPhie, on Monday Europe will continue to be dependent on Russian hydrocarbons until 2027despite the wish of many to end all business with Moscow as soon as possible to oppose its military action in Ukraine.
“We aim to be completely independent of Russian fossil fuels by 2027, and We believe it is possible to reduce our demand by two thirds in a year,” McPhie said at a European Commission news conference.
In their bid to replace Russian oil and slash prices that top $100 a barrel, European nations, among others, have turned to the Persian Gulf countries, asking them to increase production and supplies.
Not to be replaced in the short term
The last one to stop her feet was him UAE Energy Minister Suhail al Mazroueiwho remembered it this Monday Currently, no producer is able to replace Russian oilwhich will initially remain an irreplaceable necessity for the entire energy market.
“Unless someone is willing to come and bring 10 million barrelswe don’t see anyone who can replace Russia,” said Al Mazrouei. “Politics aside, this volume is needed today,” he added.
The energy minister of the tasteSaad Sherida al Kaabi stated that it was “virtually impossible” for Europe to divest itself of Russian gas as soon as possible because “between 30% and 40% of the gas supplied to the market comes from Russia”.
Given the European bloc’s apparent reluctance to acquire Russian energy resources in general, and under the pressure of sanctions – the European Union itself banned the supply of euro banknotes to Russia in early March – Moscow demanded to be paid in rubles, and claimed that it has no plans to ship its natural gas to Europe for free. A decision by the Kremlin that sparked outrage from local politicians who refused to pay Russia with their local currency, in violation of their own punitive measures.
“Of course, the drop in oil orders (by Europe) will be offset by eastbound orders,” Russian Presidential Spokesman Dmitry Peskov said.
This was announced by Ukrainian Energy Minister German Galushchenko Kyiv does not accept payment in rubles for the transit of Russian gas to the European Union. “We will not switch to the ruble. That’s impossible. This is difficult. It’s not a bilateral agreement. First, Europeans would have to pay in rubles. Everything is connected,” said Galushchenko.
“We are not at war with ourselves”
Definitely, Unlike the United States, the European Union has not yet sanctioned imports of Russian fossil fuels.by exposing its dependence on Russian oil, natural gas, and coal to heat its citizens’ homes and keep industry afloat.
“We are not at war with ourselves”That was what Belgian Prime Minister Alexander De Croo said at the summit in Brussels last Thursday. A meeting where sanctions and energy were key issues that highlighted the differences between the leaders of the bloc.
“Sanctions must always have a much greater effect on the Russian side than on us,” summarized De Croo, reflecting the positions of countries such as Germany, Austria and Netherlands, that are in conflict with other EU member states that are geographically closer to Russia who want the immediate adoption of tougher measures.
- The EU imports 90% of the natural gas used to generate electricity, heat homes and meet industrial needs. Russia supplies nearly 40% of the region’s gas and a quarter of its oil consumption.
(With information from RT)