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HomeEnergyEU Countries Spent 380 Billion Euros On Energy Imports In 6 Months

EU Countries Spent 380 Billion Euros On Energy Imports In 6 Months

European Union (EU) Council President Charles Michel reported that member countries imported 380 billion euros of energy in the first half of this year. Michel wrote an article titled “The EU now needs a real Energy Union”.

Stating that Russian President Vladimir Putin launched an “energy missile” at Europe with the war he started in Ukraine, Michel stated that Putin wanted to destroy the European economy, weaken its society and demoralize.

“A real Energy Union is urgently needed,” said Michel. made its assessment.

Reminding that households and companies in Europe are faced with extremely high energy bills, Michel said, “The EU’s energy imports in the first half of 2022 amounted to around 380 billion euros. This is close to what we usually pay for a year.” used the phrase. Michel noted that the EU countries’ trade deficit in energy is expected to double by 2022, reaching around 5 percent of GDP.

Reminding that the governments of the member states increased their public expenditures to protect households and businesses in the face of the energy crisis, Michel said, “This financial effort is currently estimated to be half a trillion euros and is increasing rapidly. It is worth remembering that this money is not invested in the future.” made its assessment. Michel, drawing attention to the importance of the member countries acting together in the energy crisis, “I call for a real Energy Union.” used the phrase.

Drawing attention to the importance of having some main objectives of the common energy strategy, Michel said that it is necessary to permanently reduce energy consumption, ensure supply security with reliable suppliers, make joint purchases with an energy platform, diversify energy resources, lower prices, improve the functioning of the electricity market and strengthen harmony within the EU market. Charles Michel noted that the strategy also includes nuclear, an energy source that will provide energy supply and help establish a reliable electrical system.

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