The EU has encountered problems in phasing out Russian oil and gas
The European Union is facing difficulties in implementing its plan to completely phase out Russian oil and gas. The bloc’s member states are not investing enough in diversifying their energy supplies, developing renewable energy, and modernizing their power grids.
Since the start of Russia’s full-scale invasion of Ukraine, the European Union has been gradually reducing its purchases of Russian energy resources.
In particular, sanctions have virtually halted imports of Russian crude oil by sea, and Russia’s share of EU gas imports has fallen from 45% to 12%.
At the same time, the auditors emphasize that the program to phase out Russian energy is “facing difficulties” precisely at a time when Europe’s energy security is once again under pressure due to the escalating situation in the Middle East.
One of the main challenges remains filling gas storage facilities ahead of the heating season.
Currently, EU storage facilities are about 67% full, whereas at the same stage last year, this figure was nearly 80%.
Experts warn that insufficient stockpiles could lead to a sharp rise in gas prices this winter.
An additional risk will be the complete ban on imports of Russian liquefied natural gas (LNG), scheduled for January 1, 2027.
European auditors also noted that the reduction in dependence on Russian gas was not solely due to political decisions. Among the factors they cited were mild weather and high energy prices, which contributed to lower demand.
In light of this, the European Commission was advised to strengthen oversight of the implementation of the plan for a gradual phase-out of Russian energy sources.
Initially, the European Commission estimated that a complete phase-out of Russian energy sources would require approximately €300 billion in investments.
It was anticipated that a significant portion of these funds would come from the European Union budget.
However, so far, member states have committed only €54.3 billion.
According to the auditors, this discrepancy could indicate one of two things: either the initial investment need was miscalculated, or EU countries are unable to properly implement the planned measures.
The European Commission stated that EU measures and funding have already contributed to the development of renewable energy and a significant reduction in Russian gas imports.
“The Commission will take the European Court of Auditors’ recommendations into account,” said an EC spokesperson.
At the same time, the situation demonstrates that the European Union’s complete transition away from Russian energy sources requires significantly greater investment and more systematic oversight of the implementation of planned measures.
Previously, Hungary and Slovakia had put up particular resistance to plans to reduce imports of Russian energy resources.
Last year, the European Union announced a gradual phase-out of Russian fossil fuels, particularly in response to calls from U.S. President Donald Trump.
However, the current findings of European auditors indicate that the problem is broader than the positions of individual countries. EU member states still need to secure sufficient investment, energy infrastructure, and alternative supply sources to achieve a complete break from Russian energy resources.
This is stated in the findings of the European Court of Auditors, according to Reuters.
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