EU contemplates going back to Russian gas
(MENAFN) European Union officials are reportedly considering the possibility of restarting Russian gas imports as part of a potential resolution to the ongoing Ukraine conflict, according to the Financial Times. This issue has been highly contentious for the EU, especially since Brussels intensified efforts to reduce its reliance on Russian energy following the escalation of the war in 2022. German and Hungarian officials have argued that resuming Russian gas imports could help lower energy prices across the EU and incentivize Moscow to engage in peace talks. They believe such a move could also encourage the parties involved in the conflict to maintain a ceasefire. One EU official stated that pressure from major member states over energy costs is driving this discussion.
However, the proposal has angered many in Brussels and Eastern European diplomats, who have long been critical of Russia. Their concern is that resuming gas imports could boost Russian export revenues and reverse the EU’s efforts to lessen dependence on Russian energy sources. Moscow has expressed skepticism about the plan’s viability, with Russian officials doubting the EU will be ready to restart gas purchases anytime soon. The EU has significantly reduced its Russian gas imports, which once made up 40% of the bloc’s total supply, due to sanctions and the 2022 sabotage of the Nord Stream pipeline. The pipeline, which bypassed Ukraine, was a key route for Russian gas, but Ukraine stopped the flow of gas through its territory in January after an agreement with Moscow expired.
As a result, the EU has turned to more expensive liquefied natural gas (LNG) from countries like the US and Norway, contributing to rising energy costs. High prices have severely affected the EU economy, with Germany, the EU’s largest economy, facing its second consecutive year of contraction in 2024. Slovakia has accused Ukraine of jeopardizing its energy security by halting Russian gas transit, with Prime Minister Robert Fico pledging to veto any EU aid to Ukraine if gas shipments are not resumed. Despite differing opinions, EU officials agree that lower energy costs are a priority.
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