Norway to increase gas production and supplies to the EU
After four months of a full-scale Russian military invasion of the territory of independent Ukraine, Norway will increase production and gas supplies to the European Union.
This decision was made to compensate for the reduction in supplies from Russia. This is stated in the joint statement European Commission Executive Vice President Frans Timmermans and Norwegian Energy Minister Terje Åsland.
“There is great potential to increase sales to Europe in 2022, bringing about 100 TWh of additional energy to the European market,” the statement said.
Norway will increase production and gas supplies to the EU by 8% to 122 billion cubic meters this year. This corresponds to an additional 100 TWh of energy.
The EU imports about a fifth of its gas from Norway, compared to the 40% the EU received from Russia before the military invasion of Ukraine.
The sixth package of sanctions against the Russian Federation:
4 May 2022 European Commission President Ursula von der Leyen introduced the sixth package of sanctions EU versus Russia, including an oil embargo and Sberbank’s disconnection from SWIFT.
Against the introduction of a ban on the supply of Russian oil Hungary is in favor.
May 29 Bloomberg citing sources informedthat the European Commission suggests that the EU countries refuse to import Russian oil by sea, at the same time postponing restrictions on its imports by pipeline “Druzhba”.
Subsequently EU agrees on partial embargo on Russian oil.
The agreement to ban the export of Russian oil to the EU covers more than 2/3 of oil imports from Russia, reducing a significant source of funding for its military machine.
In addition, the new package of European sanctions includes cutting off the Russian Sberbank from the SWIFT international interbank system, blocking the broadcast of three more Russian state broadcasters in the EU, and imposing sanctions on those responsible for war crimes in Ukraine.
On June 1, 2022, French President Emmanuel Macron announced that by the end of 2022 the European Union would reduce Russian oil imports by 92%. Macron noted that he does not exclude also embargo on supplies in the EU gas from Russia.
On June 2, economic analyst Mikhail Krutikhin announced that in Russia talking about closing oil refineries. On the same day, US President Joe Biden said that the US and the EU are discussing the possibility of buying Russian oil. at a price below the market.
3 June EU final approved the sixth package of sanctions against Russia.