The European Commission presented a plan for reforming the energy system to phase out Russian gas and oil. It will require more than 200 billion euros

The European Commission on May 16 published a plan to reform the European energy system called REPowerEU, aimed at abandoning Russian energy carriers and combating the climate crisis.

According to the official press release, the plan includes reducing energy consumption, diversifying sources of supply (according to Politico , they will try to replace Russian gas with supplies from the United States, Egypt, Israel and the Gulf countries), increasing the consumption of renewable energy sources and developing infrastructure.

The implementation of the plan requires an additional investment of 210 billion euros by 2027. At the same time, the European Commission notes that the rejection of Russian energy sources can save the EU almost 100 billion euros a year.

“REPowerEU will help us save more energy, accelerate the phase-out of fossil energy sources and, most importantly, launch investment at a new level,” said European Commission President Ursula von der Leyen.

• The EU decided to overcome dependence on Russian gas and oil (respectively 40% and 27% of European consumption of these products) after the Russian invasion of Ukraine. The sixth package of sanctions against the Russian Federation, as expected, will include an embargo on the purchase of Russian oil, but European countries have not yet been able to agree on this measure.