EU is planning to ban energy contracts with Russia - what does that mean?

EU is planning to ban energy contracts with Russia - what does that mean?

EU, Europa - The European Union faces a crucial turn in its energy strategy. The EU Commission is considering the introduction of a comprehensive ban for EU companies to conclude new contracts with Russia in the field of fossil energy. This reports several media and underline the growing urgency to reduce the dependence on Russian energy sources. A corresponding plan is to be presented by May 6th to further reduce the use of energy from Russia, while the EU is currently moving 19 percent of its natural gas and liquid gas deliveries (LNG) from Russia, despite existing sanctions.

The commission's considerations also include the legal framework that should enable companies to terminate existing natural gas contracts without repression on the part of the governments. However, a spokesman for the commission remained undecided if you have any questions about these measures and refused to comment. It is particularly interesting that several Member States have blocked measures in the past that have provided a complete embargo for Russian deliveries.

RepowerU-Plan: A way to an independent energy future

A central component of current EU policy is the RepowerUu plan, which was formulated in response to the energy crisis in connection with the Ukraine conflict. The Commission has announced investments of up to 300 billion euros in order to fundamentally convert the European energy structure. Of these, 72 billion euros in the form of grants and 225 billion euros in loans are to be mobilized. A significant part of these funds, up to 10 billion euros, will flow into the expansion of missing gas and LNG connections.

In addition, 2 billion euros are planned for improving the oil oil frastructure, with the aim of stopping the delivery of Russian oil. The plan should also combat the climate crisis and provides measures such as energy savings and the diversification of the energy sources. A survey shows that 85 percent of Europeans agree to a faster reduction in dependence on Russian gas and oil.

future strategies and goals

Another central element of the Repowewereu plan is the creation of an EU energy platform that is intended to enable joint purchases of gas, LNG and hydrogen. In addition, the Commission plans to increase the binding energy efficiency target from 9 percent to 13 percent. This would call on Member States to take tax measures to promote energy savings and at the same time to promote the development of renewable energies.

The EU also strives to achieve a domestic production of 10 million tons of renewable hydrogen by 2030. For 2030 there is a goal that 45 percent of the energy requirement is covered from renewable sources. In order to further support this transition, additional investments of 210 billion euros are to be made available by 2027.

Overall, the EU is in a profound transformation process, which should not only reduce the dependence on fossil fuels, but also contributes to strengthening energy safety in the region and beyond. These measures are not only an answer to the current crisis situation, but should also bring long -term advantages for the European economy and the environment.

For more information on ongoing developments and the RepowerU-Plan, read the reports on Oe24 and EU-Germany.