Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Mujahideen Movement: The two were killed along with dozens of others from their family in a cowardly Zionist assassination that targeted the Sabra neighborhood today
The Palestinian Mujahideen Movement mourns the martyrdom of its Secretary-General, Asaad Attiya Abu Sharia "Abu Al-Sheikh", along with his brother Ahmad
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework
Sources to Al Mayadeen: Number of documents so great that merely studying them, along with accompanying images and footage will require a great deal of time.

EU seeks to phase out Russian energy in 7 years

  • By Al Mayadeen English
  • Source: Agencies
  • 18 May 2022 17:48
3 Min Read

EU talks about a REPowerEU initiative to phase out Russian energy, which will take up to 7 years and will cost hundreds of billions of euros despite growing inflation rates across the continent.

  • x
  • REPowerEU initiative to reduce Russian resources
    REPowerEU initiative is aimed at reducing Russian resources.

European Commission President Ursula von der Leyen presented on Wednesday the REPowerEU initiative. The plan seeks to phase out Russian energy resources, diversify gas supplies, and speed up the roll-out of renewable gases.

"We are vulnerable on relying on Russia for importing our fossil fuels, we must now reduce as rapidly as possible our reliance on Russia in energy. Today, we present our plan to realize these objectives, with the plan that is called REPowerEU. We can replace Russian fossil fuels by working on three levels: on the demand side, saving energy, on the supply side, diversifying our energy imports away from fossil fuels and accelerating the clean energy transition," Von der Leyen told a press conference.

According to the EU commission, the bloc has reached a reduction of 26% last month compared to 40% in April 2021 in the total consumption of Russian gas. This is not the first time the EU discusses reduction plans.  

Read more: Euro could slide below dollar parity for first time in 20 Years

Related News

Ukraine fails to show at exchange location, prompting Russian rebukes

Germany plans major bunker expansion amid fears of war with Russia

Last week, the EU announced the failure to agree on a sixth package of sanctions against Russia. Von der Leyen has been "unsuccessful" in persuading Hungary to join the EU embargo on Russian oil in their latest sanctions.

The chief had traveled to Budapest to convince Hungarian Prime Minister Viktor Orban to agree on the EU sanctions against Russia.

According to Hungary's Foreign Minister Peter Szijjarto, Von der Leyen could not convince Budapest that it could safely join sanctions without putting the country's energy security at risk. The Foreign Minister stressed that Hungary will insist on exempting pipeline oil imports from the sanctions.

Russian President Putin had already warned against sanctions stating that Europe would be committing "economic suicide" with its sanctions on Moscow over Ukraine. He told an energy meeting that Europe would see higher energy prices and higher inflation as a result of its actions, saying, "Of course, such an economic suicide is a domestic affair of the European countries."

While in search of alternatives given the growing inflation happening across Europe, Von der Leyen has stated that "energy savings are the quickest and the cheapest way to address the current energy crisis. We will therefore increase the EU energy efficiency target for 2030 from 9% to 13%. Then, there is the massive investment in renewable energy, the biggest task. Here, we are increasing our target for 2030 from 40% renewable energy to 45% renewable energy”.

The REPowerEU initiative will cost the EU massive investments and reforms, as well as up to 300 billion euros ($315.4 billion) being allocated for energy reforms. The division of the fiscal allocation will be as follows: 75 billion euros will be in grants and approximately 225 billion in loans.

  • Sanctions on Russia
  • European Union
  • European Commission
  • Russia
  • Ukraine
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS