Macron announced a new energy crisis in Europe after the abandonment of Russian gas

Photo: express.co.uk

Europe is facing an energy crisis in a new form after refusing to supply cheap Russian gas. This was announced on September 30 by French President Emmanuel Macron at the Madrid Economic Forum.

According to the French leader, the situation around the Strait of Hormuz has once again confirmed the vulnerability of European economies. He stressed that the region remains heavily dependent on fossil fuels, which hinders the achievement of sovereignty and competitiveness.

"Europe as a whole has serious dependencies, which means that if we want to simultaneously be more sovereign, competitive and achieve our carbon reduction goals, we have a serious energy problem," Macron said.

The French President noted that due to the situation in Ukraine, European countries have lost inexpensive energy resources from Russia. It was this gas, in his opinion, that ensured the operation of the "Lorraine Europe", the industrial core of the continent, which stimulated the development of the rest of the region's economies.

Macron stated that today the crisis is manifesting itself in a new form. He added that even countries like Spain or France, which have made significant progress in reducing carbon emissions, still face problems due to energy dependence.

The cost of the October gas futures on the TTF exchange in the Netherlands on September 10 exceeded $ 1,000 per 1,000 cubic meters. Experts noted that the refusal of supplies from the Russian Federation negatively affects the European industry. In particular, German politicians warned of a blow to the German industry in the event of a complete cessation of purchases of Russian fuel.

Amid rising prices and the threat of oil supply disruptions, Macron on September 21 called on the European Commission to temporarily relax a number of environmental requirements for fuel production. The French president outlined this initiative in an official letter to the head of the European Commission.

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