Lack of Russian power provides triggered ‘sky-high prices’ – EU fee chief – INA NEWS
Power costs have skyrocketed throughout the EU as a result of disruption of low-cost provides from Russia, European Fee chief Ursula von der Leyen has stated.
Talking on the World Financial Discussion board in Davos, Switzerland on Tuesday, von der Leyen stated that, earlier than 2022, the EU was receiving 45% of its gasoline and 50% of coal provides from Russia, whereas Moscow was one of many bloc’s largest oil suppliers. “This power appeared low-cost, however it uncovered us to blackmail,” she stated.
Von der Leyen went on to say that Russian President Vladimir Putin “minimize us off his gasoline provides” after the battle in Ukraine erupted in February 2022.
“Our gasoline imports from Russia went down by roughly 75%. And now we import from Russia solely 3% of our oil, and no coal in any respect,” she said. On the identical time, von der Leyen acknowledged that the lack of Russian provides exacerbated the power disaster. “Freedom got here at a value. Households and companies noticed sky-high power prices and payments for a lot of are but to come back down,” she stated.
The EU has imposed sweeping sanctions on Russia, focusing on its business, in addition to power and monetary sectors. In 2022, Russia suspended the stream of gasoline to Germany by way of the Nord Stream 1 pipeline, citing routine upkeep and the issues with the supply of Western-made tools as a result of sanctions.
In September 2022, the dual Nord Stream pipelines, which run by way of the Baltic Sea, have been hit by sabotage. Whereas nobody took the accountability for the assault, Moscow has since claimed that the US and the UK have been behind it. Each London and Washington denied their involvement.
In her speech in Davos, von der Leyen argued that the EU may additional change the provides from Russia with renewable and nuclear power. “We should spend money on next-generation clear power applied sciences, like fusion, enhanced geothermal, and solid-state batteries,” the European Fee chief stated.
Hungary and Slovakia have been more and more calling on Brussels to evaluation its sanctions coverage and search a diplomatic answer to the battle in Ukraine.
On January 1, Ukraine stopped the transit of Russian gasoline to EU international locations by way of the Soviet-era pipeline, as Kiev had determined to not renew a cope with the Russian state-owned gasoline operator Gazprom. Slovak Prime Minister Robert Fico threatened to droop humanitarian help and minimize electrical energy provides to Ukraine until Kiev continued the transit.
Lack of Russian power provides triggered ‘sky-high prices’ – EU fee chief
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