Close Menu
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

BYD to build European HQ in Budapest

May 17, 2025

Trump wants coal to power AI data centers – the tech industry is wary

May 17, 2025

Japan’s TDK accelerates launch of next-generation battery

May 17, 2025
Facebook X (Twitter) Instagram Threads
Oil Market Cap – Global Oil & Energy News, Data & Analysis
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment
Oil Market Cap – Global Oil & Energy News, Data & Analysis
Home » ‘Historic mistake’: Von der Leyen rules out return to Russian fuels after the war
Europe & Russia

‘Historic mistake’: Von der Leyen rules out return to Russian fuels after the war

omc_adminBy omc_adminMay 7, 2025No Comments4 Mins Read
Share
Facebook Twitter Pinterest Threads Bluesky Copy Link


ADVERTISEMENT

Ursula von der Leyen has ruled out, in no uncertain terms, the possibility of resuming purchases of Russian fossil fuels after the conclusion of the war in Ukraine, warning that doing so would represent a “mistake of historic dimensions” for Europe.

“To be very clear: the era of Russian fossil fuels in Europe is coming to an end,” the president of the European Commission said on Wednesday morning as she addressed lawmakers in Strasbourg.

Close advertising

Her categorical refusal comes amid Donald Trump’s push to strike a peace deal between Russia and Ukraine, an effort that has seen the White House embrace many of the Kremlin’s talking points, including its claims to Crimea and the occupied territories.

Trump’s diplomacy has stoked speculation that Russian energy might be part of a future settlement, given the fundamental role that fossil fuel exports play in Moscow’s budget and Vladimir Putin’s desire to revive his precarious economy.

For decades, the EU was Russia’s largest client, but the multi-billion commercial relationship collapsed in early 2022 after Putin launched the full-scale invasion. Since then, the bloc has adopted unprecedented measures to cut down consumption of Russian fossil fuels, including sweeping bans on coal and seaborne oil.

With US officials publicly dangling the prospect of sanctions relief as an incentive to make the Russian president accept a lasting ceasefire, which he has so far rebuffed, the EU’s own set of restrictions is poised to come under scrutiny.

According to Russian Foreign Minister Sergey Lavrov, the ongoing rapprochement between Washington and Moscow has touched upon the future of the Nord Stream pipelines, which connect Russia and Germany and are currently closed.

“It will probably be interesting if the Americans use their influence on Europe and force it not to refuse Russian gas,” Lavrov said in late March.

But on Wednesday, von der Leyen firmly drew a red line in the sand.

“Some are still saying that we should reopen the tap of Russian gas and oil. This would be a mistake of historic dimensions. And we will never let it happen,” she said.

“Russia has proven, time and again, that it is not a reliable supplier. Putin has already cut gas flows to Europe in 2006, 2009, 2014, 2021, and throughout the war. How many times before they learn the lesson?” she went on.

“Dependency on Russia is not only bad for our security, but also for our economy. Our energy prices cannot be dictated by a hostile neighbour.”

An ambitious roadmap

Despite the collective undertaking, some Russian fuels are still making their way into the bloc’s economy. Last year, the 27 member states spent €23 billion on Russian energy, surpassing the amount of military assistance provided to Ukraine.

The flows of liquefied natural gas (LNG) have become a source of friction, as they have not only continued unimpeded but moved at even higher volumes.

According to the Centre for Research on Energy and Clean Air (CREA), EU imports of Russian LNG in 2024 increased by 9% compared to the previous year. Almost 90% of these purchases arrived in France (7.7 bcm), Spain (5.7 bcm) and Belgium (5.1 bcm).

ADVERTISEMENT

“Russia is hugely reliant on the EU market for its gas exports, providing 52% of its LNG export revenue,” CREA said in an April report.

Seeking to close remaining loopholes, the Commission has presented an ambitious roadmap to eliminate all purchases of Russian energy, including LNG, pipeline oil and nuclear materials, by the end of 2027 at the very latest.

The new plan envisages a prohibition on imports of Russian gas that EU firms will use to invoke force majeure and break long-term contracts with suppliers. These contracts are governed under “take-or-pay” terms that entail hefty penalties for non-compliance.

Unlike sanctions, which require unanimity and are vulnerable to national vetoes, the bans on Russian gas will be based on energy and trade policy, where only a qualified majority is needed. Hungary and Slovakia, two landlocked countries that still rely on Moscow, have already criticised the roadmap, saying it would imperil the EU’s competitiveness.

ADVERTISEMENT

Speaking before the European Parliament, an institution that has long called for the complete phase-out of Russian fuels, von der Leyen stuck to her strategy, depicting it as an indispensable element to guarantee a just and lasting peace in Ukraine.

“We must do our utmost to strengthen Ukraine’s hand. Because we have all seen how Russia negotiates. They bomb. They bully. They bury promises beneath rubble,” she said.

“Putin wants to force Ukraine into accepting the unacceptable. So the task we face is to help Ukraine stand strong, defy Putin’s intimidation, and engage in peace talks based on its own conditions.”



Source link

Share. Facebook Twitter Pinterest Bluesky Threads Tumblr Telegram Email
omc_admin
  • Website

Related Posts

MEPs urge Greek prime minister to crack down on Russia’s shadow fleet

April 25, 2025

Oil prices jump in response to Trump’s Venezuela tariff threats

March 25, 2025

‘Dig, dig, digging’: Is Trump elbowing the EU aside as he grabs Ukraine’s mineral wealth?

February 28, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Trump’s 100 days, AI bubble, volatility: Market Takeaways

December 16, 20072 Views

Permian Basin growth fuels ExxonMobil’s quarterly success – Oil & Gas 360

May 2, 20251 Views

IOCL targets $1 trillion revenue by 2047, to enter data centres, nuclear power, battery and mining sectors, ET EnergyWorld

May 17, 20250 Views
Don't Miss

EOG Resources awarded exploration concession for onshore UAE shale basin

By omc_adminMay 16, 2025

EOG Resources, Inc. (EOG) today announced that the company was awarded a new oil…

Halliburton, Rhino Resources deliver two wells in Orange Basin, offshore Namibia

May 16, 2025

Oxy and ADNOC’s investment firm to explore carbon capture solutions in Texas

May 16, 2025

BlackRock’s New ESG Utilities ETF Targets 30% Emissions Cut

May 16, 2025
Top Trending

Top winemaker ‘may have to leave its Spanish vineyards due to climate crisis’ | Food & drink industry

By omc_adminMay 17, 2025

TrusTrace Launches AI-Powered Supply Chain Sustainability Traceability Platform

By omc_adminMay 16, 2025

California Plans $60 Billion Carbon Cap-and-Invest Program Despite Pressure from Trump

By omc_adminMay 16, 2025
Most Popular

The 5 Best Soundbars of 2025

May 6, 20251 Views

Energy Department Lifts Regulations on Miscellaneous Gas Products

May 2, 20251 Views

Nvidia Products: What to Know About Data Center GPUs and Consumer Tech

May 17, 20250 Views
Our Picks

Oxy and ADNOC’s investment firm to explore carbon capture solutions in Texas

May 16, 2025

UNSC Convenes Behind Closed Doors Over Pahalgam Attack: Diplomacy at Crossroads Amid Indo-Pak Tensions

May 16, 2025

Phillips 66 Sells Majority Stake in German, Austrian Retail Unit

May 16, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 oilmarketcap. Designed by oilmarketcap.

Type above and press Enter to search. Press Esc to cancel.