EU faces skyrocketing energy costs amid disruption of Russian supplies, says Ursula von der Leyen
Date
1/22/2025 12:19:51 AM
(MENAFN) energy costs have surged across the European Union, largely due to the disruption of affordable Russian supplies, according to European Commission President Ursula von der Leyen.
In a speech at the World Economic Forum in Davos, Switzerland, on Tuesday, von der Leyen explained that prior to 2022, the EU relied on Russia for 45 percent of its gas and 50 percent of its coal, with Moscow also being one of the bloc’s major oil providers. “This energy appeared cheap, but it exposed us to blackmail,” she remarked.
She further noted that Russian President Vladimir Putin "cut us off his gas supplies" following the onset of the Ukraine conflict in February 2022.
"As a result, our gas imports from Russia plummeted by about 75%. Currently, we only import 3% of our oil from Russia, and we receive no coal," she added. Von der Leyen also recognized that the loss of Russian energy supplies worsened the crisis. “Freedom came at a price. Households and businesses experienced skyrocketing energy costs, and many are still facing high bills,” she pointed out.
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