The invasion of Ukraine and the strengthening of the effectiveness of sanctions against Russia are the main topics of the meeting of European leaders in Brussels.
The meeting is being held in the presence of Joe Biden, the first US president to attend an official EU summit. nor is there a Commission proposal in this direction. According to a Community source, we will first see the impact of the existing sanctions on the Russian economy, while the next sanctions will depend on Russia’s further stance on Ukraine.
Reduction of gas imports from Russia
However, the EU is not ready at the moment for a complete and immediate ban on the import of fossil fuels from Russia, because the dependence of several countries is very high and this would have a major impact on the European economy.
However, the 27 leaders are expected to give political approval to the Commission proposal for a gradual reduction of Russian gas imports by 2/3 by the end of this year, through the search for alternative suppliers, but also the acceleration of the promotion of renewable energy sources (RES). ). In this context, EU countries today expect from the US President an explicit commitment, that his country will significantly increase exports of liquefied natural gas to Europe from this year.
Energy issues will also dominate tomorrow’s second day of the summit, which will discuss joint procurement and gas storage, as well as how electricity prices could fall.
Nikos Bellos, Brussels
Source: Deutsche Welle
Source: Capital
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