European Union leaders agreed this week to a partial ban on Russian oil imports, overcoming a veto by Hungarian Prime Minister Viktor Orban. But the agreement commits only to banning seaborne imports to the EU by the end of 2022, leaving Russian oil imported by pipeline untouched. Seaborne imports account for two-thirds of the oil the EU purchases from Russia, leaving one-third outside the ban’s scope. However, Germany and Poland announced at this week’s leaders’ summit in Brussels that they will not use the exemption, pledging to phase out both seaborne and pipeline imports by the end of this year. [...]
European Commission President Ursula von der Leyen told a gathering at the annual World Economic Forum in Davos this week that Russia is deliberately stoking a global food crisis as a form of “blackmail.” Her remarks underscore Brussels’ fears over an impending global food crisis. Recognizing the high stakes involved in global food security, European Union policymakers are now racing against time to prepare for what they anticipate will be a food security crisis unprecedented in the modern era. Russia’s weaponization of global commodities is not limited to the energy sector, von der Leyen told her audience in Davos. “In Russian-occupied Ukraine, the [...]
The war in Ukraine has exacerbated Europe’s energy crisis, leaving the European Union desperately seeking alternative sources of supply to reduce its dependence on Russian fossil fuels. Among the states in the Middle East, North Africa and Central Asia the EU has turned to in efforts to diversify its energy supplies Algeria has been identified as a promising source of additional supplies of natural gas. But diplomatic obstacles and production limitations, as well as Algiers’ commercial links to Moscow, mean that expectations management are in order when it comes to Algeria being a cure for Europe’s energy woes. Among the [...]
