Macron announced a new energy crisis in Europe
The refusal of Russian gas and the situation at the Strait of Hormuz exposed the vulnerability of EU economies
Quick Look
Europe is facing a new energy crisis after abandoning cheap Russian gas because of Ukraine, and the situation around the Strait of Hormuz has exposed the vulnerability of European economies, French President Emmanuel Macron said.
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Why It Matters
Europe has refused Russian gas supplies amid the conflict in Ukraine.
PARIS, September 30 – RIA Novosti. Europe is experiencing an energy crisis in a new form: it has refused supplies of cheap Russian gas, and the situation around the Strait of Hormuz has once again exposed the vulnerability of European economies, said French President Emmanuel Macron.
"Europe as a whole has serious dependencies, which means that if we want to be more sovereign, more competitive and achieve our carbon reduction targets at the same time, we have a serious energy problem," Macron told an economic forum in Madrid. His speech is broadcast on the social networks of the Elysee Palace.
He noted that Europe refused Russian supplies due to the situation in Ukraine and lost cheap gas that fed “Lorraine Europe,” the industrial core of the continent, which pulled the rest of the economies with it.
“Today we see this crisis, so to speak, in a new form - this is a new energy crisis,” the French leader stated.
Today, as Macron emphasized, European countries have a real dependence on fossil fuels.
Open Questions
- What alternative energy sources does the EU plan to use?
