Russia-Ukraine war: EU agrees to phase out Russian fuel imports 'as soon as possible'

Days after agreeing to accept Ukraine’s plea for membership, the European Union (EU) has now announced plans to phase out Russian fuel imports to the bloc. As the Russian invasion of the ex-soviet state continued for the third week, heads of government from the 27 EU member states gathered at Versailles Palace to discuss tougher sanctions on Moscow. On Friday, March 11, a report by Daily Mail stated that the bloc has agreed to collectively rearm and phase out Russian gas, oil and coal "as soon as possible."

Labelling the ongoing war in Ukraine as "a tectonic shift in European history", the leaders asked European countries to save energy. They also revealed a strategy to reduce reliance on Russian fuel which would involve reducing consumption of fossil fuels, diversifying supply chains as well as harnessing more renewable sources of energy. For the purpose, they tasked the European Commission to make proposals by the end of May.

“Reducing the energy consumption ... by 450 million Europeans makes a big chunk," European Commission President Ursula von dey Leyen said. It is worth noting that Europe was already facing a tricky test before the Russian invasion due to skyrocketing prices and a fuel shortage.

“We can see how our food, our energy, our defence are all issues of sovereignty... We want to be open to the world but we want to choose our partners and not depend on anybody. The Versailles declaration is linked to the fact that sovereignty in Europe, which might have been thought of by some as a slogan or a French fantasy, is seen by all today as crucial,” French President Emmanuel Macron said after the meeting.

EU to impose fourth package of sanctions against Russia on March 12  

Earlier this week, US President Joe Biden announced his decision to ban all imports of Russian gas, oil and energy amid Moscow's military offensive against Ukraine. He said that sanctions will cause significant damage to Russia's economy. Biden also claimed that the "US is a bigger producer of oil than all European countries." 

This development comes after Ukrainian President Volodymyr Zelensky's multiple pleas to US and Western officials to cut off Russian imports, which had been ignored in the previous sanction. 

The EU is imposing a fourth sanction package on Russia today, March 12. Announcing the same, Ursula von der Leyen wrote on Twitter, "As Russia's ruthless invasion continues, the EU and our G7 partners continue to ramp up the economic pressure on the Kremlin."   

(Image: AP)