European Commission advances proposal to separate Russian oil and gas imports
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European Commission It is working on a proposal to cut off Russian oil and gas imports after facing criticism of its reliance on Russia’s President Vladimir Putin.
A committee spokesman told Fox News Digital that a vote on the proposal is expected on May 6th, but the exact date could change.
“It’s a comprehensive plan to phase out Russian Fossil Fuels From the European energy market, spokesman Anna Kaisa Itkonen said she refused to share more details.
The agreement may include an increase in US natural gas imports, as proposed in the past by Commissioner Ursula Von Der Leyen.
The European Union spent more on Russian fossil fuels than Ukrainian aid in 2024
President of the European Commission Ursula von der Reyen (Reuters/Yve Herman)
The EU currently relies on the US for about half of its LNG. president Donald Trump By purchasing more US fuel supplies, Europe says it should compensate for the US trade deficit.
“They need it, so they’ll have to buy their energy from us,” Trump said last week.
The EU spent about $23 billion last year on importing Russian oil and gas, exceeding the $19.6 billion provided in financial aid to Ukraine. Points Trump criticised in his joint speech to Congress last month.
“Europe has spent much more on Russian oil and gas than it has spent defending Ukraine, and much more on Russian oil and gas purchases. Think about that.
In 2024, Russia accounted for 19% of the EU’s total gas and LNG supply, down from 45% before the war began. The bloc has authorized Russian oil, but could not impose financial penalties on gas imports.
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In fact, natural gas shipments from Russia were checked up in 2024, increasing from 15.2 million tonnes the previous year to 16.5 million tonnes.
Russian crude and refined products despite Western ban on Russian Petroleum exports It fell just 8% from before the invasion of Ukraine. The Kremlin has acquired nearly $1 trillion from its oil exports since February 2022.
Russia relies on the “shadow” fleet of 585 oil tankers to transport many of its exports aimed at hiding its origins. Russia buys aging ships from European owners, frequently reflecting them, and uses shell companies to obscure Russian origins.
Russia also exports oil to third-party states that do not impose sanctions on Moscow and sells it to the West.
Russia’s oil and gas exports account for 19% of Europe’s fuel supply. (Reuters/Fabriziovensch)
The proposal was originally intended to be made public in March, but was partially delayed due to concerns that it could be blocked by two countries that rely most on Russian fuel imports: Hungary and Slovakia.
Hungary, which has sympathized with Russia’s war efforts, has threatened to block gas sanctions that require unanimous approval from the 27-member bloc.
According to Jonathan Bass, CEO of Argent LNG, the EU will have a “difficult” time cutting new gas contracts while operating under a net-zero climate emissions target.
Russia relied on a “shadow” fleet of 585 oil tankers to transport much of its exports. (Reuters/Yorkuisik/File)
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“They cannot sign a 2030-20-20 offtake agreement where they have to lose gas by 2050 or 2040 by German Regs,” Bass told Fox News Digital.
“They need to know how to end this 2050 plan or at least give these European companies a runway so that they can contract American elements to them.”