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The roadmap will see a gradual removal of Russian oil, gas and nuclear energy from the EU markets in a coordinated and secure manner as the EU transitions to clean energy. EU countries will prepare national plans by the end of 2025 setting out how they will contribute to phasing out imports of Russian gas, nuclear energy and oil. At the same time, efforts will continue to accelerate the EU’s energy transition and diversify energy supplies.
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The roadmap includes measures to:
- gas: stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring and traceability of Russian gas across the EU markets. New contracts with suppliers of Russian gas will be prevented and spot contracts (for immediate payment) will be stopped by the end of 2025.
- oil: take fresh action to address Russia’s ‘shadow fleet’ (vessels employed by Russia to evade sanctions) transporting oil.
- nuclear: restrict new supply contracts co-signed by the Euratom Supply Agency for uranium, enriched uranium and other nuclear materials deriving from Russia.
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I am truly delighted with this, as someone who will likely see a rise in costs as a result it is the right thing to do.
What I do not get is why Trump isnt championing this as the right move. He could create a huge LNG market and sell oil at a similar if not lower price given how much they have been refining in rcent years. I mean I get why but still.
The move to green is the way forward, the downside is the lack of interdependence creates room for discontent.
Trump isn’t aware of anything more than 1 foot from his nose. Frankly he doesn’t need to be aware of this, the US Is already selling a crazy amount of LNG on the Global Market. Here’s the graph of exports.
Oil is a different matter. The US can produce plenty of crude but is seriously constrained by refinery capacity. No new refineries of significance have been built since 1976 and all of the existing refineries are already working flat out. It’s why the US was importing so much refined petroleum product (Gasoline, Diesel, etc) from Russia prior to the Ukraine war.