UNSUCCESSFUL EFFORTS TO BREAK FREE FROM RUSSIAN OIL AND GAS

BRUSSELS, SEPTEMBER 9 /SRNA-Reuters/ - The European Court of Auditors said that the EU’s efforts to achieve independence from Russian oil and gas have been unsuccessful.

In its report, the Court said that the EU is not investing enough to achieve its goal of fully replacing Russian energy supplies in the coming years, while also expanding renewable energy resources and the grid needed to strengthen energy flows between EU member states.

“The EU’s plan to abandon Russian energy supplies is not working because European energy security is facing new threats as a result of unrest in the Middle East,” the report said.

Europe is struggling to fill its gas storage facilities ahead of winter because deliveries have been hampered by the conflict with Iran.

EU gas storage facilities are around 67% full, significantly below the 80% recorded at the same time last year.

Analysts warn that this could put EU member states in a difficult position due to rising prices during the winter, particularly because a complete ban on imports of Russian gas is set to take effect on January 1 next year.