European Union

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The European Parliament has adopted a nonbinding resolution calling for restrictions on EU imports of Russian oil and gas and further diversification of EU energy sources, including building more LNG terminals. EU Commission President Ursula von der Leyen said EU investments should prioritize energy security and independence and emphasized that this ultimately means switching to a renewables-based energy system. "We simply cannot rely so much on a supplier that explicitly threatens us," von der Leyen told the parliament on Tuesday. She was speaking before the vote during a plenary session of the parliament that was called to assess Russia's invasion of Ukraine. The resolution was overwhelmingly approved by EU lawmakers but carries no legal weight. It called for a broadening of EU sanctions to weaken Russia's economy and limit its ability to wage war. In particular, it called for restrictions on imports of "the most important Russian export goods, including oil and gas." The EU, like the US, has tried to exclude energy transactions from the sanctions and other measures that it has taken against Russia, in order to minimize their impact on the economies of EU member states.

Policy and Regulation, Low-Carbon Policy
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