EU Energy Strategy: Delays in Phasing Out Russian Imports

The European Commission has postponed its plan to reduce dependence on Russian energy imports, initially set for a February announcement, now delayed indefinitely. The EU's non-binding target aims to end Russian gas imports by 2027. Challenges persist in balancing energy security with competitive pricing.

The European Commission has once again postponed its announcement regarding plans to reduce the European Union's dependence on Russian energy. Initially scheduled for March 26, the announcement has now been delayed to an unspecified date, according to a schedule released on Wednesday. No comments were offered by the Commission on the revised timeline.

Energy Commissioner Dan Jorgensen had previously committed to presenting this plan within the first 100 days of his term. Initially announced for February, the strategy now faces its second postponement. The EU has set a non-binding objective to cease Russian natural gas imports by 2027—a decision influenced by Russia's full-scale invasion of Ukraine in 2022. However, some member states have delayed diversifying their energy sources, resulting in an increase in Russian gas imports last year.

The challenge before the 27-member bloc is to ensure energy security while simultaneously reducing costs to keep European industries competitive against those in China and the United States, where energy prices are significantly lower. An extension of gas storage targets is expected later on Wednesday, though critics warn these targets could elevate already high gas prices, arguing for increased flexibility.

(With inputs from agencies.)