The EU's efforts to achieve independence from Russian oil and gas are stalling just as the 27-country bloc enters winter with exceptionally low gas reserves. Reuters reports this, citing a statement by auditors, according to UNN.
Details
A report by the European Court of Auditors says that the EU is not investing enough to achieve its goals of completely replacing Russian energy supplies by diversifying fossil fuel supplies, as well as expanding the use of renewable energy sources and developing grid infrastructure to increase energy flows between member states in the coming years.
The European Union has been gradually reducing its imports of Russian fuel since the start of Russia's full-scale invasion of Ukraine in 2022.
Thanks to sanctions on seaborne Russian oil, the EU has almost completely abandoned imports of Russian crude oil, while Russia's share of the bloc's gas imports has fallen to 12% (compared with 45% before 2022).
However, the EU's plan to abandon Russian energy supplies is "stalling just as Europe's energy security is facing new threats due to instability in the Middle East," auditors said.
Europe is struggling to fill its gas storage facilities ahead of winter, as the conflict involving Iran is restricting global supplies. According to the Gas Infrastructure Europe association, underground gas storage facilities in the EU are only 67% full, significantly below the 80% level reached by this point last year.
Europe enters winter with its lowest gas reserves in 13 years - The Guardian29.08.26, 20:38
Analysts warn that this could lead to a sharp rise in prices in winter, particularly given that the EU's plan to abandon Russian gas provides for a complete ban on imports of Russian LNG from January 1, 2027.
Auditors noted that the EU had managed to replace Russian gas partly thanks to mild weather and high energy prices, which reduced demand, rather than through policy measures. They recommended that Brussels intervene more actively in the situation to ensure that countries continue on the path toward abandoning Russian energy supplies.
A European Commission spokesperson said that EU action and funding had accelerated the implementation of renewable energy projects and contributed to a significant reduction in Russian gas consumption.
"The Commission will take note of the Court of Auditors' recommendations," the spokesperson added.
Initially, the Commission estimated the investments needed to implement the plan to abandon Russian energy supplies at 300 billion euros and provided for these funds to be allocated from the EU budget. However, countries have so far allocated only €54.3 billion for these purposes; in the auditors' view, this indicates either that the Commission incorrectly assessed the investment needs or that countries are having difficulties implementing the plan.