Von der Leyen discusses power sanctions

European Fee President Ursula von der Leyen has informed CNBC that power sanctions in opposition to Russia are nonetheless an possibility if the nation invades Ukraine.

When requested about the opportunity of imposing sanctions on Russian fuel large Gazprom, von der Leyen stated Saturday, “every part is on the desk.”

Europe imports round 40% of its fuel provide from Gazprom, the EU chief informed CNBC’s Hadley Gamble on the Munich Safety Convention, which von der Leyen described as a “dependency that isn’t sustainable.”

She stated she had been reaching out with success to different suppliers, akin to the US.

“We had now, in January, the very best quantity of power deliveries [from elsewhere], and we all know by now that if there’s a decoupling of Russian fuel as a retaliation, we’re in a position to make it by means of this winter with out Russian fuel however with provide from others and that is good,” von der Leyen stated.

Italian Prime Minister Mario Draghi has argued that any potential sanctions in opposition to Russia shouldn’t embody power imports. Italy is among the many largest importers of Russian fuel within the European Union.

Von der Leyen maintained that it was essential to not rule out any choices, noting that two-thirds of Russia’s power exports go to Europe and this accounts for a big quantity of Russia’s funds. She argued that it was, subsequently, not a “sensible transfer” for Russia to decouple Europe from its fuel provide.

Von der Leyen added that she had reassured Draghi that Europe would supply fuel from elsewhere and that there was a pipeline community by means of the continent to “deliver the mandatory fuel to Italy in order that Italy can also be on the secure aspect.”

NATO Secretary Common Jens Stoltenberg agreed that the European Fee had been “working exhausting” to scale back its power dependency on Russia.

“We should be much less depending on power from one supply, from fuel from Russia,” Stoltenberg informed CNBC on the Munich Safety Convention.

He added this was essential, “partly to scale back emissions of greenhouse, of CO2, but additionally to be much less susceptible [to] any aggressive actions from Russia in utilizing fuel as a political device.”

Discussing the specter of a possible Russian invasion of Ukraine, the EU’s von der Leyen stated “all of us need that diplomacy may have victory, however we put together for the worst.”

President Joe Biden stated on Friday that the U.S. believes Putin has determined to hold out an assault on Ukraine “within the coming days.”