EU to Invest 300 Bln Euros to Get Independent from Russian Gas by 2027

The European Union (EU) continues to plan to increase its commitment to reducing energy consumption and increasing its independence from the Russian supply through renewable energy sources.

The European countries also seek to persify imports from other parts of the world to avoid Russia, by 2027, with an acceleration of the energy transition plan and reducing emissions in the opinion of the European Commission, which costs the European Union about 300 billion euros.

European Commission President Ursula von der Leyen indicated that the European Union (EU) would have to invest up to 300 billion euros by 2030, in order to be independent of Russian energy imports.

The Commission also proposed investing up to two billion Euros in oil-related infrastructure, to help countries that rely heavily on Russian fuel, to buy oil from third parties.