During 2024, the EU paid 23 billion euros for Russian energy resources, despite a significant reduction in their consumption. Speaking at a debate in the European Parliament, European Commissioner for Energy Dan Jorgensen said.
“Until 2022, half of the coal we imported into the EU was Russian. We have stopped importing completely. The share of oil has fallen from 27 per cent to 3 per cent. And finally on gas: from 45% of our gas coming from Russia in 2022 to 13% today. However, last year we still paid Russia 23 billion euros for energy imports,” Jorgensen emphasised.
The official explained to MEPs how the European Commission plans to phase out Russian gas from EU markets by 2027, and all other energy sources by 2030.
“Our aim is to minimise the negative impact on energy prices, stabilise energy markets and provide legal certainty. We will therefore move forward step by step,” Jørgensen noted.
The European Commissioner announced new rules allowing to track Russian gas on the market. The European Commission expects national plans from member states to phase out Russian energy.
“We recommend submitting the first plans already this year so that the phase-out is safe and prepared. In addition, we will strengthen control over illegal oil entering the market through the Russian shadow fleet,” the official emphasised.
The European Commissioner explained that these decisions are part of a broader plan to change trade relations with Russia due to security risks.
“Given this important policy shift, we see no possible scenario for the future use of Nord Stream to transport Russian energy to Europe. It is in the interest of our economic security we are taking a number of different steps. And they all lead us in the same direction – towards a more secure, sustainable and diversified energy supply,” Jorgensen summarised.
According to media reports, the EU will this week propose to G7 finance ministers to lower the cap on the maximum price of Russian tanker oil from $60 to $50 per barrel.
The European Commission on 6 May presented an action plan for the EU’s complete withdrawal from Russian energy sources.
According to the executive body, the EU has reduced the share of Russian gas imports from 45% to 19% thanks to the REPowerEU plan. At the same time, the EU has seen a resumption of Russian gas imports in 2024. Therefore, the European Commission presented a roadmap to ensure “a complete end to the EU’s dependence on Russian energy, while ensuring stable energy supplies and prices across the EU”.