EU leaders meet in Versailles to discuss Ukraine war and gas imports

EU leaders are assembly within the Palace of Versailles, France, to debate Russia’s invasion of Ukraine and plans to strengthen the bloc’s power independence and defence capabilities.

The 2-day assembly begins on Thursday night and is hosted by French President Emmanuel Macron, whose nation at present holds the EU Council’s rotating presidency.

Macron has outlined the Ukraine struggle as a “change of period” for the continent that requires a geopolitical rethinking.

“We can’t rely upon others to defend us, whether or not on land, at sea, underneath the ocean, within the air, in house or in our on-line world,” the president stated final week.

“On this respect, our European defence should take a brand new step.”

Ever since Macron arrived on the Élysée, he has been essentially the most distinguished and vocal defender of strategic autonomy, a theoretical idea that posits the EU ought to grow to be extra self-reliant and assertive on the world stage.

Russia’s aggression and the ensuing set of hard-hitting sanctions that the EU, in coordination with allies, has slapped on the Kremlin have created a brand new momentum round requires strategic autonomy, which Macron is about to additional amplify.

The Versailles gathering follows a sequence of transformative occasions for the EU.

For the primary time in its historical past, the bloc will finance the acquisition of deadly weapons for international locations which can be underneath assault, with an preliminary €500 million package deal for Ukraine.

Germany, Sweden and Finland have additionally dropped long-standing insurance policies concerning army support. Denmark will maintain a referendum in June to determine whether or not to maintain the opt-out clause that has up to now eliminated the nation from the EU frequent defence coverage – the one member state at present excluded.

Leaders will construct upon these developments to debate methods to spice up defence expenditures, promote progressive applied sciences and deepen cooperation between member states.

The 27 will even take inventory of the state of affairs inside Ukraine, the humanitarian disaster and Kyiv’s utility to hitch the EU. The European Fee is at present inspecting the request and is predicted to challenge an opinion within the coming days.

Vitality push

Along with this, leaders will contact upon the bloc’s last-minute push to slash power imports from Moscow and break away from its long-standing dependency.

To at the present time, Russia stays the primary EU provider of crude oil, fuel and stable fossil fuels, a sector that brings greater than 40% of the nation’s revenues. Western international locations are more and more involved that the big amount of cash they ship Russia to import power is not directly financing the struggle in Ukraine.

Within the US, President Joe Biden has already imposed a complete ban on Russian imports. Within the UK, the federal government unveiled plans to part out all Russian oil merchandise by 2023.

The EU will not be unified sufficient to introduce the same ban, given the assorted levels of power dependence that some member states current. Nonetheless, political willpower is intensifying to hurry up the transfer away from Russian power.

Earlier this week, the Fee unveiled an formidable roadmap to chop Russian fuel by two thirds (round 100 billion cubic metres) earlier than the tip of yr, most of which shall be changed by liquefied pure fuel (LNG) from different suppliers, such because the US, Qatar, Azerbaijan and Algeria.

Biomethane, clear hydrogen, power effectivity and renewable power must also contribute to the speedy swap, Brussels famous. The plans supplied new measures to take care of hovering electrical energy payments, like regulated worth caps and redistribution of windfall income.

“We should grow to be impartial from Russian oil, coal and fuel. We merely can’t depend on a provider who explicitly threatens us,” stated EU Fee President Ursula von der Leyen.

The manager’s objective is to make the bloc “impartial from Russian fossil fuels effectively earlier than 2030.”

Even when Brussels can present steerage and facilitate joint procurement, the plans will rely upon member states and their capability to swiftly change power suppliers and maintain the burden greater costs within the close to time period.

The transition is already bearing fruit. Based on figures released by Bruegel, an financial suppose tank, Russia’s share of EU fuel imports fell from 47% in January 2021 to twenty-eight% in January 2022, amid tensions alongside the Ukraine border.

On Friday, the controversy will flip to financial issues, like funding, provide chains and innovation. European Central Financial institution President Christine Lagarde will be part of leaders for the dialogue.

Even when the assembly is casual and no official conclusions shall be taken, the stage offers the event an air of solemnity and grandeur. The Palace of Versailles, situated exterior Paris, noticed the signature of the 1919 peace treaty that put an finish to the struggle between Germany and the Allied Powers.