The European Commission — the primary executive arm of the European Union — announced a plan Wednesday to wean itself off Russian natural gas, as the war in Ukraine wages on and global gas and oil prices continue to climb.
The plan, known as REPowerEU, calls for increases in energy efficiency, a build-out of renewables, and an increase in supply of fossil fuels from other countries over the next decade. The Commission estimates that the plan will cost approximately $300 billion euros, or $315 billion.
“We must now reduce as soon as possible our dependence on Russian fossil fuels,” said Ursula von der Leyen, president of the Commission, in a statement to the press. “I am deeply convinced that we can.”
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