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US, EU announce new partnership to undercut Russian energy

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US, EU announce new partnership to undercut Russian energy

by News Wires
March 25, 2022
in Business, World
President Joe Biden and European Commission President Ursula von der Leyen talk to the press about the Russian invasion of Ukraine, at the US Mission in Brussels, Friday, March 25, 2022, in Brussels.

President Joe Biden and European Commission President Ursula von der Leyen talk to the press about the Russian invasion of Ukraine, at the US Mission in Brussels, Friday, March 25, 2022, in Brussels.

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BRUSSELS – The United States and European Union on Friday announced a new partnership to reduce the continent’s reliance on Russian energy, a step top officials characterized as the start of a years-long initiative to further isolate Moscow after its military operation in Ukraine.

US President Joe Biden asserted that Russian President Vladimir Putin uses energy to “coerce and manipulate his neighbours” and uses the profits from its sale to “drive his war machine.”

Biden said the partnership he announced jointly with a top European Union official will turn that dynamic on its head by reducing Europe’s dependence on Russian energy sources, as well as the continent’s demand for gas overall.

The president said according to AP that such a step is not “only the right thing to do from a moral standpoint” but “it´s going to put us on a stronger strategic footing.”

Under the plan, the US and other nations will increase liquified natural gas exports to Europe by 15 billion cubic meters this year. Even larger shipments would be delivered in the future.

At the same time, they will try to keep their climate goals on track by powering gas infrastructure with clean energy and reducing methane leaks that can worsen global warming.

Although the initiative will likely require new facilities for importing liquified natural gas, the partnership is also geared toward reducing reliance on fossil fuels in the long run through energy efficiency and alternative sources of energy, according to the White House.

Ursula von der Leyen, head of the EU’s executive arm, said it is important for Europe to shift away from Russia and toward energy suppliers that are trustworthy, friendly and reliable.

“We aim to reduce this dependence on Russian fossil fuels and get rid of it,” she said.

Russian energy is a key source of income and political leverage for Moscow. Almost 40% of the European Union’s natural gas comes from Russia to heat homes, generate electricity and power industry.

Tags: energyEuropean UnionJoe BidenRussiaTop_NewsUSAVladimir Putin

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