BRUSSELS - European Union (EU) leaders unveiled a €210 billion strategy aiming to cut Russian gas out of the European energy equation before 2027 and by two-thirds before the end of the year — but questions remain on how it is to be financed.
After months of frantic plan-making, EU leaders on Wednesday (18 May) unveiled a strategy aiming to cut Russian gas out of the European energy equation before 2027 and by two-thirds before the end of the year.
One of the many consequences of Russia's "criminal" invasion of Ukraine, European Commission executive vice-president Frans Timmermans told press, is a "massive disruption" to the European and global energy markets.
'Sooner or later' member states will have to decide on a new EU wide financing tool 'as we have done with Covid,' EU commissioner Frans Timmermans said.
