Page 7 - FSUOGM Week 48 2022

FSUOGM PIPELINES & TRANSPORT FSUOGM

The EU dependence on Russian

energy charted

RUSSIA WHILE the US already banned imports of Rus- oil. The ban is expected to be in effect by the end
sian energy in March and April shortly after the of the year in case the bloc can agree on the deal.
Energy dependence on country's invasion of Ukraine, the EU as one Finally, Russian gas is the fossil fuel that is
Russia contrasts greatly of Russia’s crucial trading partners is taking hardest to replace for the EU as it arrives on the
between the EU and longer to ween itself off Russian gas, oil and continent via pipelines, and many countries are
the US. coal. Import data on both the EU and the US still missing the infrastructure to receive LNG.
show how big the difference in their energy In addition, dependence on Russia is the most
dependence on Russia is, Statista reports. ingrained in Europe, with several countries
While 2021 mineral fuel imports into the sourcing large chunks of their gas supply from
US from Russia were the equivalent of $50mn their Eastern neighbour.
spent on Russian energy per day, that number Russia exports mainly raw materials, and
was $296mn in the EU. This is according to mineral fuels made up the absolute majority
numbers by the European Commission, the of the goods imported to the EU and the US
UN Comtrade database and the US Census from the country in 2021. Iron, steel and wood
Bureau. as well as precious stones and metals made up
An EU ban on imports of coal – the most smaller parts of imports from Russia to the EU
ubiquitous and easiest to replace commodity – countries and the US. All products imported
is expected to go into full effect in August. Only from Russia only amounted to 0.7% of the US
last Friday, major opponent Germany gave the trade in goods in 2021, while this number was
green light for an EU ban on imports of Russian a more significant 3.6% in the EU. ™

Week 48 02•December•2022 www. NEWSBASE .com P7