EU will stop importing Russian fuels “well before 2030”

The European Union (EU) intends to completely eliminate its dependence on Russian fuels “long before 2030″ to ensure that the 27-country bloc does not again face difficult decisions, with potentially dire consequences for their economies, in the face of geopolitical crises such as the Russian invasion of Ukraine.

EU leaders will meet in Versailles, outside Paris, for two days starting Thursday to seek ways to reduce their reliance on fossil fuels from Moscow.

“We agree to phase out our dependence on Russian gas, oil and coal imports”, says a draft of the declaration to be issued by the summit that was seen by the Associated Press.

At the same time, the European Commission is already considering proposals to make this a reality. The EU’s executive arm said its measures “they can cut Russian gas demand by two-thirds by the end of the year” as a first step.

“We have to become independent from Russian oil, coal and gasCommission President Ursula von der Leyen said in a statement. “We simply cannot trust a provider that explicitly threatens us”.

The EU imports 90% of the natural gas it uses to generate electricity, heat homes and supply industry. Almost 40% of the gas used by the block comes from Russia, the same as a quarter of the oil.

For a decade, the EU has faced the dilemma of what to do with fuel imports from Russia, a country with which it has tense relations. But the prospect of leaving tens of millions of people cold in the winter because of fossil fuel shortages or skyrocketing prices limited their options.

The invasion of Ukraine, however, changed everything and in just two weeks the EU drew up a more robust energy policy, although it has not yet been formally put into force.

The bloc, which was already aiming to develop renewable energy sources due to climate change, will accelerate that process to solidify its energy independence.

Germany, Italy and several Eastern European nations are the most dependent on natural gas.

Analysts say that to eliminate dependence on Russian natural gas, it is imperative to reduce the consumption of that fuel, starting with the industrial sector.

The EU Commission, on the other hand, said Europe could increase its purchase of liquefied natural gas brought in by ship rather than from Russia via pipelines and by importing more gas from other countries.