site.btaEuropean Commission Sees No Threat to EU Fuel Supplies Following Latest Sanctions Against Russia

A spokesperson for the European Commission said that for now Brussels does not see any threat to fuel supplies, addressing a press conference on Monday in response to questions related to the new sanctions against Russia imposed last week by the EU and the United States.

Brussels is closely monitoring the security of supply in EU member states and in countries aspiring to join, the spokesperson noted. He added that European legislation requires maintaining mandatory fuel reserves for a period of 90 days.

The Commission is calling on EU member states to begin following the goals for diversification of energy sources, and is providing support, the spokesperson continued. According to him, the new sanctions may have some impact, which is why countries must have contingency plans. “There are other supply sources, and we are ready to provide assistance if needed,” he added.

Last week, the EU approved new measures against Russia over its war in Ukraine, including a ban on the import of Russian liquefied natural gas starting in January next year. At the same time, the United States imposed sanctions on Russia’s two largest oil companies Rosneft and Lukoil.