EU to spend €195B for energy independence from Russia

EU to spend €195B for energy independence from Russia
# 12 May 2022 02:31 (UTC +04:00)

The European Commission prepared a draft in which it predicts the European Union's additional spending of €195 billion over the next five years to break away from Russian energy sources, the Financial Times reported on Wednesday, APA reports.

The Commission's draft is about “rapidly reducing our dependence on Russian fossil fuels by fast-forwarding the clean transition and joining forces to achieve a more resilient power system and a true Energy Union.” The Commission previously expressed its belief that the EU member states could lower the Russian oil and gas imports by two-two thirds this year. The sixth package of sanctions is awaiting approval from the member states, slowed down by Hungary which relies on Russian energy imports.

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THE OPERATION IS BEING PERFORMED