European Commission climate and energy spokesman Tim McPhie conceded on Monday that Europe will remain dependent on Russian hydrocarbons into 2027, despite the desire of many to halt deals with Moscow as soon as possible to oppose its military actions. in Ukraine.
“We aim to be completely independent of Russian fossil fuels by 2027, and we believe it’s possible to cut our needs by two-thirds within a year,” McPhie told a European Commission press 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 to stop his feet was UAE Energy Minister Suhail al Mazrouei, who recalled on Monday that no producer is currently able to replace Russian oil, which for the time being continues to be an irreplaceable need for the whole becomes market. energetic.
“Unless someone is willing to come and bring 10 million barrels, we don’t see anyone who can replace Russia,” Al Mazrouei said. “Politics aside, this volume is needed today,” he added.
Qatar’s Energy Minister Saad Sherida al-Kaabi said it was “virtually impossible” for Europe to get rid of Russian gas as soon as possible, as “between 30% and 40% of the gas supplied to the market” comes from Russia. .
Given the apparent reluctance of the European bloc 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 that they be paid for 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 [por parte de Europa] the orders in the east will be compensated,” said the spokesman for the Russian Council Presidency, Dmitry Peskov.
Meanwhile, Ukraine’s Energy Minister German Galushchenko announced that Kyiv will not accept payments 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”
In any case, unlike the United States, the European Union has so far failed to impose sanctions on Russian fossil fuel imports, revealing its dependence on Russian oil, natural gas and coal to heat its homes and industries.
“We are not at war with ourselves,” declared Belgian Prime Minister Alexander De Croo 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 impact on the Russian side than on us,” De Croo summed up, reflecting the positions of countries like Germany, Austria and the Netherlands, which are in conflict with other EU member states that are geographically closer. to Russia, which calls for 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.