European Union Sets Out Plan to End Russian Energy Imports
The EU plans to launch a massive expansion of renewable energy construction as part of its efforts to end its dependence on Russian energy.BORJA SUAREZ/REUTERSThe European Union released a $317 billion plan it said would end the region’s dependence on Russian energy within five years, testing the bloc’s political will to overhaul its energy policy and infrastructure in response to the invasion of Ukraine.
The plan envisions European countries cooperating in the near term to negotiate gas supply deals from producers in the U.S., the Middle East and Africa to replace gas from Russia. At the same time, the bloc would launch a massive expansion of renewable energy construction by boosting funding for projects and streamlining regulations that slow them down.
The plan, released on Wednesday by the European Commission, the EU’s executive arm, seeks to cut imports of Russian gas by two-thirds this year and end its dependence on them entirely by 2027.
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