Because reliance on Russia varies, agreement on an EU boycott is harder to achieve. Lithuania said Saturday that it stopped Russian gas imports and would rely only on an LNG terminal it launched in…
Shocking pictures from the Ukrainian town of Bucha and accusations of Russian war crimes are building pressure for more sanctions against Moscow. A key potential target: Russian oil and natural gas, and the $850 million that European importers pay for those supplies every day.Western sanctions so far have targeted Russian banks and companies but spared oil and gas payments — a U.S. concession to keep European allies on board and present a united front.
Of the 155 billion cubic meters of gas that Europe imports from Russia every year, 140 billion comes through pipelines crossing Ukraine, Poland and under the Baltic Sea. Europe is scrambling to get additional supplies by ship in the form of liquefied natural gas, or LNG, but that can’t make up for losing gas by pipeline.
Germany, the continent’s biggest economy, still gets 40% of its gas from Russia, even after cutting its reliance. It aims to end Russian coal imports this summer, oil imports by year’s end and be largely independent on gas by 2024, Economy Minister Robert Habeck said.It’s working to get off Russian gas as fast as possible by finding new sources, conserving and accelerating wind and solar. The EU plan is to cut use of Russian gas by two-thirds by year’s end and exit well before 2030.
Makers of metals, fertilizer, chemicals and glass would be hard hit. Even a partial shutoff of gas to industry could cost “hundreds of thousands” of jobs, said Michael Vassiliadis, head of Germany’s BCE union representing workers in the chemicals and mining industries.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: More Russian troops, Wagner mercenaries move into DonbasLATEST: Russia responds to accusations that its troops have deliberately killed civilians in Ukraine.
Read more »
Russia-Ukraine war live updates: International condemnation against Russian grows, Zelenskyy cities atrocities as forces depart BuchaUKRAINE-RUSSIA LATEST: • Russian retreat reveals devastation in Bucha, a town near Kyiv • Ukraine calls for war crime evidence collection, sanctions over Bucha 'massacre' • Russian naval forces continue to blockade Ukrainian coast, UK says
Read more »
EXPLAINER: Why is Europe balking at a ban on Russian energy?Shocking pictures from the Ukrainian town of Bucha and accusations of Russian war crimes are building pressure for more sanctions against Moscow.
Read more »
EXPLAINER: Why is Europe balking at a ban on Russian energy?Pressure for more sanctions against Moscow continue to build with Russian energy as a key potential target. Here are key facts around Europe’s energy imports from Russia and whether a boycott is possible:
Read more »
Germany works 'every day' towards a Russian energy banGermany is working 'every day' towards being able to ban Russian energy, the economy minister said on Monday, while a prominent regional leader said Berlin could speed up the process by ending its opposition to nuclear power.
Read more »
Deutsche Bank CEO warns against cutting off Russian gasAn 'inevitable' recession would follow a ban on Russian gas imports, Sewing said.
Read more »