European Union institutes mandatory gas storage ahead of possible Russian cuts – By The Associated Press (FOX Business) / June 27, 2022
Before the invasion of Ukraine, the EU got 40% of its gas from Russia
European Union countries agreed Monday that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries.
The EU is trying to slash its use of Russian energy amid the Kremlin’s war in Ukraine and find other sources. A ban on imports of Russian coal will start in August, and an embargo on most oil from Russia will be phased in over the coming eight months.
Meanwhile, Moscow is disrupting natural gas deliveries, a fuel used to power factories and generate electricity that the EU didn’t include in its own sanctions for fear of seriously harming the European economy. Before the war, the bloc got about 40% of its natural gas from Russia.
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