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Updated July 19th, 2022 at 14:40 IST

French President Emmanuel Macron hosts dinner for UAE leader in Versailles

France and the United Arab Emirates on Monday signed an agreement on energy cooperation to ensure oil and natural gas supplies from the Gulf country as Europe prepares for the possibility of a total gas cutoff from Russia in retaliation for sanctions over the war in Ukraine.

IMAGE: @EmmanuelMacron/Twitter | Image:self
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France and the United Arab Emirates on Monday signed an agreement on energy cooperation to ensure oil and natural gas supplies from the Gulf country as Europe prepares for the possibility of a total gas cutoff from Russia in retaliation for sanctions over the war in Ukraine.

The deal announced by the French economy ministry comes as President Emmanuel Macron is hosting UAE President Mohammed bin Zayed Al Nahyan in Paris.

"The agreement we are signing with the United Arab Emirates is of double strategic importance: it allows us to address the pressing challenges of energy security in the short term, while preparing for a de-carbonized future,” French Economy and Finance Minister Bruno Le Maire said in a statement.

The ministry did not provide details on the agreement.

Other trade and energy agreements are expected to be signed during Sheikh Mohammed's first state visit to France since he was appointed president of the Western-allied nation of seven sheikhdoms in May.

They include an agreement between the French energy giant TotalEnergies and Abu Dhabi National Oil Company to ensure energy supply, the economy ministry said.

France has deep ties to the UAE, and the two leaders have developed a personal relationship.

It paid off during Macron’s visit to Abu Dhabi last year that resulted in a 16 billion-euro ($18 billion) arms deal with the Gulf ally, the largest-ever French weapons contract for export.

Their meeting Monday comes as the war in Ukraine rages into the sixth month and Europe is in the grip of a sweltering heat wave.

European countries are bracing for a potential Russian gas shutdown amid soaring energy prices, inflation and a cost-of-living crisis across the 27-member bloc.

(IMAGE: @EmmanuelMacron/Twitter)

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Published July 19th, 2022 at 14:40 IST

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