Cypriot President Nikos Christodoulides said that the energy resources of the eastern Mediterranean will not be able to completely replace Russian gas in Europe, but can cover 15% of needs.
According to Christodoulidis, Europe’s biggest weakness lies in the current situation around Ukraine, in its energy dependence on Russian natural gas.
Of course, the Eastern Mediterranean alone cannot replace Russian natural gas. There are no volumes that can completely replace Russian natural gas, but there are certainly volumes that can reduce the EU’s dependence on Russia.”
According to the President of Cyprus, the European Union has already invested in the Eastern Mediterranean region.
Christodoulides said: “We expect more technical and financial support from the EU so that we can tap the potential of the region, which, according to experts and those who know better than us, can cover 15-16% of the EU’s energy needs in the next 25 years.”
The West stepped up sanctions pressure on Russia over Ukraine, which led to higher prices for electricity, fuel and food in Europe and the United States.
The energy crisis in the European Union escalated in early July 2022, when there were first interruptions in gas supplies from Russia to a number of EU countries, including problems with servicing Nord Stream turbines due to sanctions imposed against Russia.
Russian President Vladimir Putin said that the policy of containing and weakening Russia is a long-term strategy for the West, and sanctions have dealt a serious blow to the entire global economy. Emphasizing that Russia will solve all the problems that the West creates for it.
Source: News