Subscribe here: https://bit.ly/eudebates A year ago, Europe had a massive dependency on Russian fossil fuels built up over decades. This made us vulnerable to supply squeezes, price hikes and Putin’s market manipulation. In less than a year, Europe has overcome this dangerous dependency. We have replaced around 80% of Russian pipeline gas. We have filled our storages and reduced demand by more than 20% in the period from August to November. And through collective effort, we brought down gas prices quicker than anyone expected. From its peak in August, European natural gas prices have now dropped by 80% this month. That is below the levels of before the Ukraine war. Europe has once again shown the power of its collective will.
“Europe will always stand with the Ukrainian people,” said von der Leyen. “Russia’s relentless attacks and the spectre of rising energy prices have not shaken our resolve. There will be no let-up in our steadfast support for Ukraine,” she added. In a special address delivered at the World Economic Forum Annual Meeting 2023, European Commission President Ursula von der Leyen delivered an upbeat vision of a strong and united Europe despite the war in Ukraine and global climate change challenges.
Europe is providing over €18 billion ($19.5 billion) in financial assistance to Ukraine in 2023 – the largest assistance package ever conceived by the European Union for a third country. The first tranche of 3 billion euros has already been dispersed, helping pay to restore critical infrastructure such as hospitals and school. “We are in it for as long as it takes,” she said.
Europe’s reaction to the war shows how the European Union can come together when it matters, she emphasized. A case in point is energy. In less than a year, Europe’s dependency on Russian energy sources has been reduced dramatically. Von der Leyen pointed out that more than 80% of Russian pipeline gas has been replaced. “Europe has shown the power of its collective will,” she said.
On climate, the European Commission president stressed that Europe has no time to lose in its transition to a clean economy. The net-zero transition is already causing profound economic and geopolitical shifts, she said.
“In less than three decades we have to reach net zero,” she said. “In the next few decades, will see the greatest industrial transformation of our times.”
In the longer term, Europe’s ambition is to become the world’s leader in clean tech. “The story of the clean-tech economy will be written in Europe,” she pointed out. The EU’s strategy rest on four pillars: a regulatory environment which provides speed and access, financing for clean-tech production, upskilling and boosting trade.
“The Net-Zero Industry Act will identify clear goals for European clean tech by 2030, focusing on strategic projects across entire the supply chain,” she said.
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8 Comments
They still do depend on Russia for almost everything
Well isn’t that special
No Ursula van der Lying you and Nato made the planned crisis Zelensky was a Young Global Leader in WEF Year 2000 we don’t trust you anymore you are a traitor to Europ
You are a living witch. You must be interrogated by eu.
Shw did not arrested yet…
Corrupted murderer
President Trump is right all the way, if you remember when, President Trump tell that in a meeting with Nato and E.U. Leaders in Germany they smile and did not agree, but now you learn your lesson in a hard way.
Russia made Germany one of the richest countries in the world. Thanks to the Americans the Germans will be living in the streets like the homeless people in America. They call this progress.
Western European leaders should be fired and jailed. The Poles were the only ones who saw this war coming while everyone else worked to intertwine Europe to Russia, especially western Europeans.