'Europe is too dependent on Russian gas' VDL admits huge financial pain ahead for EU

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Announcing a raft of new economic sanctions amid Russia’s invasion of Ukraine on Tuesday, Ursula von der Leyen said it was time the European Union moved on from buying Russian gas and invested in renewable energy options from “reliable suppliers”.

Speaking at a press conference, she said: “This crisis shows that Europe is too dependent on Russian gas, we have to diversify our supplies, and we have to go to reliable suppliers.

“We will have to massively invest in renewable energy, that is where the future is.

“Because this is a strategic investment in our energy investments.”

She also added how it was “absolutely right” for Germany to scrap its controversial Nord Stream 2 project which saw Russia supply the Germans with gas.

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She stressed how the project also has to be further assessed in light of the energy supply crisis for the whole of the EU, as she hinted at major plans ahead for the bloc.

The Commission president also stressed how today’s sanctions from the bloc are in direct response to Russia’s aggressive behaviour.

She explained: “We will make it as difficult as possible for the Kremlin to pursue its aggressive actions.”

While she also added that Russia is “not respecting its international obligations” warning that President Putin “is violating core principles of international law”.

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She went on: “Russia has manufactured this crisis and is responsible for the current escalation.

“We will now quickly finalise the sanctions package and we will coordinate closely with our partners as we have done so far.”

More to follow…



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