US, EU sign agreement to reduce dependence on Russian gas
The EU and the US have signed an agreement to supply more US gas to Europe, as the region seeks to limit its dependence on Russian energy.
The gas supply agreement between the US and the European Union (EU) was announced on the occasion of President Joe Biden’s visit to Brussels, Belgium, today. Biden attended three summits with European leaders, where the focus was on the crisis Ukraine and Russian countermeasures.
“The United States will work with international partners and seek to secure at least 15 billion cubic meters of liquefied petroleum gas (LNG) for the EU market by 2022, which is expected to continue to increase in the future,” the White House said. .
US President Joe Biden (R) shakes hands with French President Emmanuel Macron at a conference in Brussels, Belgium, on March 24. Photo: AFP.
The deal’s long-term goal is to secure about 50 billion cubic meters of LNG from the US to the EU annually, until at least 2030.
The Russian side has not yet commented on the deal.
European Union leaders will also discuss possible measures to curb rising energy prices today. Spain, Greece and several other countries want to limit energy prices and resort to market intervention, while Germany and the Netherlands want to delay the move.
The issue of whether to impose an embargo on Russian energy, in addition to a series of sanctions against the country, will also be discussed by EU leaders, but is unlikely to arrive at a final decision.
Russia supplies 40% of the EU’s gas needs and more than a quarter of the bloc’s oil imports. Germany, the EU country most dependent on gas supplies from Russia, has been reluctant to impose Moscow’s energy curbs for fear of the huge economic impact.
Earlier this month, the US president announced a ban on imports of oil and other energy from Russia in response to the military campaign in Ukraine. The UK and EU also announced plans to reduce their dependence on energy from Moscow.
The US and its Western allies have also removed a number of Russian banks from the SWIFT international payment system, banned imports of many goods from Russia and removed the country’s most favored status with the country.
Russia then banned the export of more than 200 items in telecommunications, health care, automobiles, agriculture, electrical engineering and technology until the end of 2022 in response. Moscow also imposed sanctions on the President and several high-ranking US officials, barring them from entering the country Russia.
Ngoc Anh (Based on Reuters)
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