By Nina Bachkatov
Everything appeared to be proceeding according to a well-scripted agenda, unfolding through months of indecision, bravado, and uncertainty. The war in Ukraine remained challenging on the front line, yet political and financial support remained unwavering. Few had taken seriously President Trump’s electoral promise to resolve the conflict within 24 hours by presenting President Putin with a deal he could not refuse. The EU was on course to adopt a 16th package of sanctions, bolstered by indications that the Russian economy and budget were facing increasing difficulties in balancing the cost of the war.
Although the package also reflects a lack of creative political alternatives, Brussels remains firmly committed to sanctions, particularly in the energy sector, adhering to its decision to eliminate Russian fossil fuels by 2027. On 4 February, undeterred by Kyiv’s military setbacks and galvanised by the need to respond to President Trump’s geopolitical pronouncements, European Commission President Ursula von der Leyen delivered her equivalent of an inaugural speech. The content had been previewed a week earlier at the EU Ambassadors’ Conference. Her “Competitive Compass” is not significantly different from other “roadmaps” the EU is fond of producing. However, one of its four “concrete measures” to stimulate the continent’s economy over the next five years specifically addresses lowering energy costs.
Continue reading “Russian energy back on the EU agenda”