EU Announces
Accelerated Plan To Reduce Dependency on Russian Energy
EU Announces ,
Accelerated Plan to Reduce , Dependency on Russian Energy. Al Jazeera
reports that the European Commission has revealed a $220 billion plan
to end the bloc's dependence on Russian fossil fuels in the next five
years. .
Al Jazeera reports
that the European Commission has revealed a $220 billion plan to end
the bloc's dependence on Russian fossil fuels in the next five years.
. The package,
REPowerEU, also reportedly accelerates the EU's plan to transition to
green energy. We are taking our ambition to yet another level to make
sure that we become independent from Russian fossil fuels as quickly
as possible, Ursula von der Leyen, EU Commission President, via Al
Jazeera. Al Jazeera reports that Russia supplies 40% of the EU's gas
and 27% of its imported oil.
. In August, an EU
plan to ban Russian coal will take effect. . The bloc has also pledged
to reduce the demand for gas from Moscow by two-thirds by the end of
2022. The bloc has also pledged to reduce the demand for gas from
Moscow by two-thirds by the end of 2022.
Hungary and other landlocked countries have opposed the EU's proposed
oil embargo, citing concerns about the cost of switching to
alternative sources. Hungary and other landlocked countries have
opposed the EU's proposed oil embargo, citing concerns about the cost
of switching to alternative sources.
RePowerEU will help
us to save more energy, to accelerate the phasing out of fossil fuels
and, most importantly, to kick-start investments on a new scale,
Ursula von der Leyen, EU Commission President, via Al Jazeera.
New investments
reportedly include $90 billion for renewable energy, $28 billion for
hydrogen infrastructure, $30 billion for power grids and $59 billion
for energy savings.
. New investments
reportedly include $90 billion for renewable energy, $28 billion for
hydrogen infrastructure, $30 billion for power grids and $59 billion
for energy savings.
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