EU to Replace Russian Oil and Gas With US Fuel Under New $750B Trade Deal
The European Union and the United States have signed a new trade agreement aimed at strengthening economic ties and reducing Europe's reliance on Russian energy. As part of the deal, the EU will replace Russian gas and oil with large-scale purchases of American liquefied natural gas (LNG), crude oil, and nuclear fuel.
The announcement was made by European Commission President Ursula von der Leyen on July 27
According to von der Leyen, the EU, within the framework of the new trade agreement with the US, plans to use American energy resources to achieve energy independence from Russia.
“The purchase of US energy products diversifies our supply sources and contributes to Europe's energy security. We will replace Russian gas and oil with large purchases of American LNG, oil, and nuclear fuel,” she noted.
Read more
- Category
- War in Ukraine
How Ukraine’s 2025 Drone Strikes Are Crippling Russia’s Wartime Oil Revenues
Von der Leyen also confirmed that the two sides agreed on a unified tariff rate of 15% for the majority of EU exports. This applies to key sectors such as automobiles, semiconductors, and pharmaceuticals.
“We also agreed on a 'zero for zero' tariff on a number of strategic goods. This includes all aircraft and their components, some chemicals, equipment for semiconductor production, certain agricultural goods, natural resources, and critical raw materials,” European Commission President added.
According to her, the EU continues to rely heavily on Russian hydrocarbons, but Europe intends to phase out these imports completely by 2027. To achieve this, EU countries are expected to purchase up to $750 billion worth of fuel from the United States over the next three years.
Earlier, Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri stated that India remains confident in its ability to meet its oil needs through alternative sources should Russian supplies be disrupted by secondary sanctions.
Fundraiser For Peaceful Nights$1,500,000 towards 10 Ukrainian AI-Controlled Turrets.Donate
