#eu-energy-policy

#eu-energy-policy

"agreement is a long-overdue step toward dismantling one of the Kremlin's most powerful economic weapons. Every cubic meter of Russian gas kept flowing into Europe has helped finance the missiles that strike Ukrainian cities. This Regulation, if implemented without loopholes, brings Europe closer to honouring its promise to end this deadly dependency."

The European Commission has presented its plan to use frozen Russian state assets to help fund Ukraine. Commission President Ursula von der Leyen says the proposal would create a reparations loan, drawing on cash balances from immobilized Russian assets in the EU. "We have strong safeguards in place throughout to protect member states and reduce risks as much as possible," von der Leyen told reporters in Brussels. "For example, to ensure that an illegitimate award outside the Union cannot be enforced within.

The move aims to end dependency on Russian energy following Russia's weaponisation of gas supplies with significant effects on the European energy market, said a European Council statement.