EU rushes out $300 billion roadmap to ditch Russian energy

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EU rushes out $300 billion roadmap to ditch Russian energy
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The European Union’s executive arm is moving to jump-start plans for the EU to abandon Russian energy amid the Kremlin’s war in Ukraine.

The Associated Press

With no end in sight to Russia’s war in Ukraine and European energy security shaken, the EU is rushing to align its geopolitical and climate interests for the coming decades. It comes amid troubling signs that have raised concerns about energy supplies that the EU relies on and have no quick replacements for, including Russia cutting off member nations Poland and Bulgaria after they refused a demand to pay for natural gas in rubles.

Energy savings and renewables form the cornerstones of the package, which would be funded mainly by an economic stimulus program put in place to help member countries overcome the slump triggered by the coronavirus pandemic. It put forward a specific plan on solar energy, seeking to double photovoltaic capacity by 2025 and pushing for a phased-in obligation to install solar panels on new buildings.

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