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Transcript/ScriptRussia Ukraine Europe Energy (TV)
HEADLINE: Despite Sanctions, Europe Continues to Bankroll Russia for Gas and Oil
TEASER: European gas imports from Russia have increased since Ukraine invasion, as energy prices soar
PUBLISHED AT: 3/1/2022 at 4:45pm
BYLINE: Henry Ridgwell
CONTRIBUTOR:
DATELINE: Berlin
VIDEOGRAPHER: Henry Ridgwell
VIDEO EDITOR: Henry Ridgwell
PRODUCER:
SCRIPT EDITORS: BR, MAS
VIDEO SOURCE (S): VOA, Reuters, APTN, AFP
PLATFORMS (mark with X): WEB _X_ TV _X_ RADIO __
TRT: 3:03
VID APPROVED BY: MAS
TYPE: VPKGN
EDITOR NOTES:))
((INTRO)) [[Western nations are continuing to pay Russia hundreds of millions of dollars every day for gas and oil imports, despite the tough sanctions imposed on the country’s banking and aviation sectors following its invasion of Ukraine. With around 40 per cent of Europe’s energy needs imported from Russia, leaders are scrambling to find alternatives, as Henry Ridgwell reports from Berlin.]]
((NARRATOR))
Russia’s major banks have been sanctioned.
Its oligarchs targeted with asset freezes and travel bans.
Russian planes have been banned from Europe’s skies.
But – Russian gas and oil continues to flow into Europe uninterrupted; and Europe is paying hundreds of millions of dollars for it every day.
E.U. ministers met in Brussels Monday to discuss how to break that dependency.
((Eamon Ryan, Irish Environment Minister (in English) ))
“Every day we spend 350 million euros which we give to the Russian system, to be able for them to invest in arms, which are dropping on the city of Kyiv and elsewhere today. So, yes, for climate reasons and for the security of our people, we need to re-assess that dependency on fossil fuels.”
((NARRATOR))
But Russia supplies around a third of Europe’s gas - and the latest figures show imports have actually increased since its invasion of Ukraine. The soaring price makes the trade even more profitable.
((Douglas Rediker, Non-Resident Fellow at Brookings Institution))
“I think that the West is going to try to continue to hold back on sanctioning on the oil and gas sector.”
((NARRATOR))
Germany is among the E.U. states most dependent on Russian energy. It has already announced the cancellation of the $11 billion Nord Stream 2 gas pipeline from Russia.
((Timm Kehler, Managing Director of Gas Association 'Zukunft Gas' (in German) ))
“We have to think about the future. Germany will need more gas because domestic production is declining, because we also need more gas-fired power plants, because we will also use more gas in other industrial sectors in order to achieve the climate targets. And we have to answer the question, ‘where will gas come from in the future?’”
((NARRATOR))
Germany announced plans to build two Liquefied Natural Gas or LNG terminals to diversify supply. Europe's LNG imports hit a record high in January, with nearly half coming from the United States.
Germany had pledged to switch off its nuclear power stations by the end of this year and all coal-fired plants by 2030. The government said those decisions could be reversed following Russia’s invasion of Ukraine.
The continent must speed up the change to renewable energy, says former environment and energy secretary Rainer Baake.
((Rainer Baake, Managing Director of Climate Neutrality Foundation (in English) ))
“There should be a very clear message to Russia now: we don’t want your gas and we don’t want your oil in the future. It’s going to be painful because prices are probably going to be higher. But the only way to free ourselves from this dependency from fossil fuels...to put [improved] efficiency [of energy use] and renewables instead of the fossil energies.”
((NARRATOR))
Meanwhile, European energy giants – including Royal Dutch Shell and British Petroleum – have announced they are offloading their stakes in Russian oil firms worth billions of dollars.
Henry Ridgwell, for VOA News, Berlin.
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Location (dateline)Berlin
Embargo DateMarch 1, 2022 18:44 EST
BylineHenry Ridgwell
Brand / Language ServiceVoice of America - English
