EU President in talks with energy leaders to diversify supply amid Russia-Ukraine war

The President of the European Commission Ursula von der Leyen had a meeting with a group of energy leaders to discuss energy security in Europe as the EU is looking to impose sanctions on the Russian supplies. She stated that the knowledge of the energy leaders will diversify their supplies in Europe. She also expressed her gratitude for their assistance with the sustainable energy transition.

She shared a Tweet, featuring an image of her talking to the energy leaders stating, "Met with a group of energy industry leaders and European Round Table to discuss energy security. Their expertise is welcome to diversify our supplies. A coordinated EU approach is needed. I thanked them for their support for the transition to clean energy."

Oil prices have been rising in Europe

In the meanwhile, oil prices have been rising in Europe since the start of the crisis in Ukraine, owing to suspicions that the EU may impose a restriction on Russian energy imports. This has prompted the EU to propose new strategies to diversify energy suppliers and become energy independent of Russia. Because of their varying reliance on Russian energy imports, EU member countries are divided on the Russian energy boycott. Overall, the EU is reliant on Russian energy, which accounts for a large share of the EU's annual imports.

The European Union imported $108 billion in energy from Russia in 2021, making it the country's single largest import, according to Weforum. However, countries like Latvia, Poland, and Lithuania sought a ban on Russian energy imports at the EU leader's meeting in France earlier this year but were flatly rejected by Germany and other nations. In explaining his refusal, German Chancellor Olaf Scholz stated that Europe's supply of energy for heating, mobility, power, and industry cannot be ensured in any other way, according to Xinhua.

Von der Leyen stated that the EU must phase out Russian fossil resources by 2027

In a subsequent message on social media, Ursula von der Leyen stated that the EU must phase out Russian fossil resources by 2027. She stated that they must take immediate action to limit the impact of growing energy prices, diversify their gas supply for next winter, and speed the clean energy transition.

Image: @vonderleyen/Twitter