Brussels fears large-scale gas shutdown in Moscow after deliveries to Poland and Bulgaria halted over refusal to pay in rubles
European energy policy is experiencing a crucial moment. Since the invasion of Ukraine began, Russia has ceased to be a reliable ally of the European Union and, after cutting gas supplies to Poland and Bulgaria, the community bloc fears a large-scale embargo that could affect several Member States and even the whole continent. In this climate of uncertainty and insecurity, the Energy Ministers of the Twenty-seven met this Monday in an extraordinary meeting where they discussed the impact of energy austerity on the two Member States and decided on the next steps to be taken, including that the embargo on Russian oil.
The veto on crude oil imports from Moscow has been on the negotiating table for weeks as European partners decide the next set of sanctions against the country. As the European Commission finalizes its proposal, countries like Poland or Ireland have called for a “total and immediate” embargo on Russian oil, a measure that would deal a serious blow to the Kremlin, as the European bill amounts to €48,000 million a year. , according to the European Statistical Office (Eurostat).
The series of sanctions will also have the support of Germany, a key player in tipping the European balance, which has already announced that it has managed to sufficiently reduce its energy dependency. However, the measure, which was to be adopted gradually and with a transitional period, clashes with Hungary’s total refusal. The president, ultra-nationalist Viktor Orbán, has already shown willingness to pay for gas in rubles, skipping European sanctions.
Given this scenario, the EU on Monday again called for unity and assured that for the time being there are no risks of supply disruption between private consumers and industry. “Moscow is not a reliable supplier and we must respond with unity and solidarity, prepare our contingency plans and increase our strategic reserves,” said energy commissioner Kadri Simson.
At the same time, the Community Executive is preparing more detailed guidelines for companies that must pay their payments to Gazprom by the end of May. What is clear is that “paying in rubles violates sanctions,” Simson said.
Since the start of the attack on Ukraine, the community bloc has worked to increase its energy independence and seek alternative oil and gas suppliers. In this way, the EU aims to reduce its energy dependence on Moscow by two-thirds. However, the Energy Commissioner stressed that “completely replacing the supply of Russian gas and oil is impossible. We need to diversify and focus on renewable energy sources and energy efficiency.”
The European strategy focuses on the short and long term. In the most immediate period, Member States are working to increase their strategic gas reserves to 80% storage in October, with the start of the winter campaign.
For this purpose, the block wants to appeal to the joint purchasing platform, which wants to bundle demand and guarantee security of supply. The US commitment to manage 15,000 million liters of liquefied natural gas –LNG– per year is also an important part of the European plan. As Kadri Simson confirms, the supply of this energy is increasing and has already reached the record level of 400 million liters per day.
When asked whether the EU is prepared for a gas and oil cut from Russia, the commissioner took a profile and appreciated the bloc’s work to reduce its energy dependency. A path that the community partners must now accelerate, because of what could happen.
Source: La Verdad
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