EU Russian Energy Exit Faltering
EU auditors report that efforts to eliminate Russian energy imports are falling short amid low gas storage levels and insufficient investments by member states, threatening winter energy security.
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Russia energy exit strategies are faltering as the bloc enters winter with gas stocks at 67%, well below last year's 80% level, European auditors said Wednesday. The European Court of Auditors warned that insufficient investments and policy execution are undermining the phaseout of fossil fuels from Russia following the 2022 invasion of Ukraine conflict. This shortfall exposes member states to winter price spikes amid tightening supplies driven by turmoil involving Iran and shifting trade flows.
