EU commits to fully phase out dependency on Russian fossil fuels before 2030
India Today
The EU has committed to fully phase out its dependency on Russian fossil fuels including gas, oil and coal imports “well before 2030.”
The European Union is seeking to fully phase out its dependency on Russian energy “well before 2030” to ensure the 27-nation bloc no longer faces difficult decisions about hurting their own economies in geopolitical crises like the invasion of Ukraine.
The EU leaders meet in Versailles outside Paris for a two-day summit starting Thursday and will be working on ways to reduce their dependency on Moscow for fossil fuels.
“We agreed to phase out our dependency on Russian gas, oil and coal imports,” said a draft of the summit declaration seen by The Associated Press.
READ: US announces ban on all imports of Russian gas, oil and energy over Ukraine war
At the same time, the European Commission already has proposals to make it happen, including diversifying natural gas supplies and speeding up renewable energy development. The EU's executive arm said its measures “can reduce EU demand for Russian gas by two-thirds before the end of the year.”
“We must become independent from Russian oil, coal and gas,” commission President Ursula von der Leyen said in a statement. “We simply cannot rely on a supplier who explicitly threatens us.”
The EU imports 90 per cent of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil.
