Loss of Russian energy triggered ‘sky-high costs’ – von der Leyen

Energy prices across the EU have skyrocketed due to the disruption of cheap supplies from Russia, European Commission chief Ursula von der Leyen has admitted.

Speaking at the World Economic Forum in Davos, Switzerland on Tuesday, von der Leyen acknowledged that the loss of Russian supplies has exacerbated the bloc’s energy crisis. “Freedom came at a price. Households and businesses saw sky-high energy costs and bills for many are yet to come down.”

Before 2022, the EU was receiving 45% of its gas and 50% of its coal from Russia, while Moscow was one of the bloc’s largest oil suppliers. “This energy appeared cheap, but it exposed us to blackmail,” she claimed.

Von der Leyen also asserted that Russian President Vladimir Putin “cut us off his gas supplies” after the conflict in Ukraine erupted in February 2022.

“Our gas imports from Russia went down by roughly 75%. And now we import from Russia only 3% of our oil, and no coal at all,” she stated.

The EU has imposed sweeping sanctions on Russia, targeting its industry, as well as energy and financial sectors. In 2022, Russia suspended the flow of gas to Germany through the Nord Stream 1 pipeline, citing routine maintenance and problems with the delivery of Western-made equipment due to the sanctions…