EU Is Gradually Phasing Out Imports Of Russian Gas, Oil And Coal

EU leaders to approve goals at Thursday-Friday summit
Joint defense of the EU, Ukraine also claims to join the EU

BRUSSELS, March 7 – European Union leaders will agree at a summit this week to phase out the EU’s reliance on Russian gas, oil and coal imports, a draft statement says, marking a turning point in its Invasion-driven policy towards Moscow. Russia to Ukraine.

EU leaders will meet in Versailles on Thursday and Friday to discuss strengthening their joint defense capability and Ukraine’s 27-nation bloc bid. L8N2V445U

Frustrated by the experience of shortages in the supply of microchips and pharmaceuticals during the COVID-19 pandemic, the leaders will also discuss how to make the EU more strategically independent from global suppliers in these sectors and food.

“We have agreed to phase out imports of Russian gas, oil and coal,” the leaders said in a draft statement seen by Reuters.

The task will be difficult, however, as the EU buys 45% of its imported gas from Russia, about a third of its oil and almost half of its coal. This leaves the bloc vulnerable if Russia decides to retaliate against EU policies by restricting exports.

The decision marks a turning point, as just last year Germany was still pushing for the commissioning of the Russian Nord Stream 2 gas pipeline, while Italy, Austria or Hungary are among the EU countries most dependent on Russian energy supplies. , were in no hurry to seek an alternative.

But the Russian invasion of Ukraine changed everything, the leaders said.

“Russia’s aggressive war represents a tectonic shift in European history,” the leaders said in a draft statement.

“Faced with increasing instability, strategic competition and security threats, we have decided to take more responsibility for our security and take further decisive steps to strengthen our European sovereignty, reduce our dependency and develop a new growth and investment model for 2030,” it says. in the message.

LIQUEFIED NATURAL GAS, RENEWABLE SOURCES

The leaders said the EU is diversifying its energy supplies and routes through the use of liquefied natural gas (LNG) and the development of biogas and hydrogen.

Europe will also accelerate the development of renewable energy sources and the production of their key components. In addition, EU countries will connect European gas and electricity networks to better allocate resources, fully synchronize electricity networks, and strengthen contingency planning to ensure supply security.

In other strategic areas, such as the production of microchips needed for the most advanced machines and electronics, the project showed that the leaders will set themselves the goal of more than doubling the share of their products in the European market to 20% by 2030.

The EU will also aim to develop its pharmaceutical sector to become a leader in biomedicine and invest in digital technologies such as artificial intelligence, cloud computing and the deployment of 5G mobile networks.

Food will also be in the spotlight. “We will improve our food security by reducing our dependence on imported agricultural products and inputs,” the project leaders said in a statement.

The draft added that after years of reliance on the United States as Europe’s chief security advocate, a policy that drew criticism from former US President Donald Trump, Europe will now spend much more on defense.

“We agreed to significantly increase defense spending with a significant share of investment, focusing on identified strategic weaknesses, as well as developing defense capabilities in cooperation with the European Union,” the project says.

Reporting by Jan Strupchevsky; Editing by Fu Yong Chi and Mark Heinrich

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