Von der Leyen says loss of Russian energy provoked ‘sky-high costs’
Date
1/23/2025 7:32:11 AM
(MENAFN) European Commission President Ursula von der Leyen has acknowledged that energy prices in the EU have surged as a result of the disruption in cheap Russian energy supplies. Speaking at the World Economic Forum in Davos, she stated that the loss of these supplies, which accounted for a significant portion of the EU’s gas, coal, and oil, has led to "sky-high" costs for households and businesses, with bills yet to drop significantly.
Before 2022, Russia provided 45% of the EU’s gas, 50% of its coal, and was one of its top oil suppliers. Von der Leyen emphasized that while these supplies were inexpensive, they also exposed the EU to Russian “blackmail.” She explained that since Russia cut off gas supplies in response to the Ukraine conflict, the EU's imports of Russian gas have fallen by about 75%, and the EU now imports only 3% of its oil from Russia, with no coal imports.
The EU's sanctions against Russia, along with disruptions to the Nord Stream pipelines, have further complicated energy supplies. In response, von der Leyen proposed that the EU invest in renewable and nuclear energy to replace the lost Russian supplies, including technologies such as fusion, enhanced geothermal energy, and solid-state batteries.
Meanwhile, countries like Hungary and Slovakia have criticized the EU’s sanctions policy and have called for a diplomatic resolution to the Ukraine conflict. In addition, tensions have risen after Ukraine halted the transit of Russian gas to the EU in January, with Slovak Prime Minister Robert Fico threatening to suspend aid to Ukraine unless gas transit resumes.
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