(MENAFN) Lingering issues in the EU energy sector can no longer be attributed to the war between Russia and Ukraine, the EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, announced in an interview with the Spanish Newspaper El Diario, shared on Sunday.
As said by the diplomat, the bloc has managed to cut its energy reliance on Russia.
“We have, in a few months, abolished the energy dependence on Russia that we had been building up for years…We went through an extremely tense phase of rising prices, but they are back to pre-war levels,” he added. As said by Borrell, the sharp increase which energy costs amounted to in August 2022 was largely due to speculative strain in the markets.
“The tensions in the energy market can no longer be attributed to the war: it is a structural problem of the energy sector, and, in particular, of the correlation between gas prices and electricity prices,” he continued.
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