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
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.
Qatari PM: We must not surrender to the arrogance of extremists and pursue our quest for a 'two-state solution'

EU seeks to phase out Russian energy in 7 years

  • By Al Mayadeen English
  • Source: Agencies
  • 18 May 2022 16:48
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

Russian drones in airspace were 'duds': Polish FM

Russia boasts military might with Zircon hypersonic missiles, bombers

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

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Elon Musk attends a news conference with President Donald Trump in the Oval Office of the White House, Friday, May 30, 2025, in Washington (AP)
Politics

Elon Musk calls for dissolving UK parliament at London far-right rally

Israeli media: US betrayed Qatar, gave green light for attack on Hamas
Politics

Israeli media: US betrayed Qatar, gave green light for attack on Hamas

Leaked memo shows Trump eyeing Louisiana National Guard plan
Politics

Leaked memo shows Trump eyeing Louisiana National Guard plan

Mamdani vows to arrest Netanyahu if elected New York mayor
Politics

Mamdani vows to arrest Netanyahu if elected New York mayor

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