EU will slash imports of Russian gas by two thirds by 2023
Brussels will slash by two-thirds the European Union's reliance on Russian gas in response to the war in Ukraine, the European Commission announced on Tuesday.
Europe will reduce its imports of Russian gas from 155 billion-cubic-metres (bcm) to 100 bcm per year and aims to make up the shortfall with supply from providers of liquified natural gas (LNG), like the United States and Qatar, as well as sustainable energy sources such as biomethane, clean hydrogen and renewable energy.
"This will end our over-dependence and give us much-needed room to manoeuvre," said Frans Timmermans, the vice-president in charge of the EU Green Deal.
"It’s hard, bloody hard, but it’s possible if we’re willing to go further and faster than we’ve done before."
According to figures released by Bruegel, an economic think tank, Russia's share in gas imports fell from 47% in January 2021 to 28% in January 2022, amid tensions along the Ukraine border.
The question of energy dependence, already high on the agenda before the invasion began, has risen to a new level over fears that European demand for gas may be bankrolling Russia's war in Ukraine. More than 40% of the country's revenue come from the gas and oil sectors.
The plans from Brussels follow an aggressive set of sanctions aimed at crippling President Vladimir Putin's military apparatus, but fall short of a total energy ban, as the US government announced the same day.
"We will not be part of subsidising Putin's war," President Joe Biden said on Tuesday.
Brussels is instead stepping up efforts to quickly diversify its basket of energy providers and diminish Russia's presence to the greatest possible extent.
"It is not a free market if there’s an actor willing to manipulate it," said Timmermans,
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