Von Der Leyen accuses Putin of energy crisis in Europe; says 'Power market not working'

Europen Commission President Ursula von der Leyen blasted Russian President Vladimir Putin as the 27-nation bloc reeled under a severe energy crisis. While speaking at the Baltic Sea Summit on Tuesday, she claimed that the electricity market is no more a functioning market because of Putin and blamed him for destroying the EU energy market. 

"The electricity market is no longer a functioning market because there is one actor, Putin, who is systematically trying to destroy it and to manipulate it. So we really have to react to that. And that is why we are addressing now the composition of the electricity market," she said. Notably, the European Union has been imposing a series of sanctions on Moscow and its allies ever since the Russian Federation attacked Ukraine on February 24 this year. 

Ever since Russia invaded its neighbouring country, Ukraine, the bloc has imposed back-to-back sanctions in order to penalise Moscow. The EU countries also pledged to minimise their dependence on Russian energy resources and imposed a partial embargo on Russian oil. However, on several occasions, Putin mocked the EU's plan, saying it would backfire on the bloc. In June this year, he called the European and Western sanctions on Moscow a "mad" step and claimed the ban could lead the European Union to lose nearly $400 billion. 

Von Der Leyen accused Putin of "blackmail"

However, the EU chief said that the Russian leader is blackmailing the union by limiting the supply of gas ahead of the heating season. During the event on Tuesday, she asserted that the bloc is accelerating the green transition. "We are getting rid of the dependency on Russian fossil fuels. And we are accelerating the clean, cheaper and home-grown renewable energy," she said.
She said that the block will promote wind energy and added the Baltic Sea offshore wind will cover the energy consumption of around six million households by 2030. "We need regional cooperation to realise the full potential of offshore wind in Europe. So the European Commission strongly supports regional cooperation initiatives – such as this one," Von Der Leyen stressed.