EU-US Trade Pact Challenges Russian Energy Dominance
A new trade agreement between the EU and the US imposes tariffs on most EU goods and seeks to reduce dependency on Russian oil and gas. Russian and European leaders have criticized the deal, predicting economic repercussions and higher energy costs for European citizens due to reliance on US alternatives.
- Country:
- Russia
The recent trade agreement between the European Union and the United States is stirring tensions, as former Russian President Dmitry Medvedev labels it "anti-Russian." The deal, enacted on Sunday, places a 15% import tariff on most EU goods, effectively discouraging purchases of Russian oil and gas.
European Commission President Ursula von der Leyen remarked that the agreement marks a historic shift in energy policy, facilitating the EU's transition from Russian fossil fuels to more secure and diversified US energy sources. The pact includes significant imports of US LNG, oil, and nuclear fuels.
Critics, including Medvedev, argue that the higher price of US LNG compared to Russian sources could harm European citizens by raising energy costs. Medvedev expressed concern over the potential economic impact and criticized the EU's stance in the evolving global energy landscape.
(With inputs from agencies.)
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