EU Faces Challenges in Reducing Dependence on Russian Energy
The European Union is grappling with significant challenges in its efforts to reduce reliance on Russian energy sources. Newly appointed EU Energy Commissioner Dan Jorgensen has acknowledged that the current strategy is not yielding the desired results, stating, "It’s obvious to everyone that something new has to happen, because everything is starting to go in the wrong direction now." Jorgensen emphasized the need for a comprehensive roadmap that incorporates existing tools and focuses on gas, oil, and nuclear energy.
Despite the EU's intentions, data from Kpler indicates that imports of Russian liquefied natural gas (LNG) are projected to rise by approximately 10% by the end of 2024 compared to 2023. This trend highlights the complexities of the EU's energy landscape, where five member states remain dependent on Russian nuclear fuel supplies. Resistance is expected from countries like Hungary and Slovakia regarding the EU's plan to completely phase out Russian energy by 2027.
New Sanctions Package and Russia's Economic Resilience
On December 11, EU ambassadors reached an agreement on the 15th package of anti-Russian sanctions, which aims to target individuals and organizations contributing to Russia's military capabilities. This package also restricts the activities of third-country vessels that support Russia's actions against Ukraine, particularly those transporting Russian oil.
In response to these sanctions, Russian President Vladimir Putin asserted that the Russian economy has recovered from previous sanctions and is now demonstrating structural improvements. He reported a 3.6% growth in GDP for 2023, with a notable increase of 4.1% in the first ten months of 2024, driven by robust industrial development. Putin claimed that Western efforts to weaken Russia economically have failed, as the country continues to strengthen its technological and production capabilities.
