EU's Quickened Fossil Fuel Phase-Out: No Impact on Russia, Kremlin Asserts

The European Union's accelerated plans to reduce its reliance on Russian fossil fuels have been deemed inconsequential by Moscow. According to Kremlin spokesman Dmitry Peskov, the EU's strategies are unlikely to compel Russia to alter its stance, maintaining that sanctions from the West over the Ukrainian conflict have not significantly deterred the Russian economy.

On Tuesday, European Commission President Ursula von der Leyen announced an initiative to expedite the phase-out of Russian fossil imports following discussions with U.S. President Donald Trump. However, Peskov, speaking during a conference call, criticized European nations for overstating the impact of their sanctions policy.

While Russia's economic resilience persists, it faces challenges from high inflation and a growing budget deficit, exacerbated by heightened military expenditure. Despite these sanctions, the EU keeps importing substantial amounts of Russian energy, although purchases of oil and gas have considerably reduced.

(With inputs from agencies.)