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This infographic aims to provide an overview of some of the most important energy indicators. It is purely for information purposes and subject to change. Figures on page one are based on market data (gas and oil prices) or data supplied by market actors (LNG capacity and gas storage rates). Figures on page 2 are based on the latest publicly available Eurostat data. These data are only available retrospectively, usually on an annualised basis, and therefore do not reflect the latest state-of-play ...

Russia's war of aggression on Ukraine, beyond atrocities committed in the field, has grave consequences for the global order, risking further destabilisation of many third countries. The EU and its Member States reacted with a series of measures aimed at hindering Russia's expansionism, supporting Ukraine's defence and reconstruction, and mitigating the impact of the war on non-EU (third) countries. Parliament will use its powers of oversight in the revived 'question time' set for the June I plenary ...

Domino effects of the war

Briefing 03-06-2022

The war Russia unleashed on Ukraine has global repercussions, beyond the death toll and the human tragedy in Ukraine itself, and the resulting refugee flows and wider destabilising effects on Europe's east. This infographic depicts some of the economic consequences of the war, for Europe, but also the rest of the world.

'This is Europe' – an initiative proposed by the President of the European Parliament, Roberta Metsola – consists of a series of debates with EU Heads of State or Government to discuss their visions for the future of the European Union. Following an earlier speech to the Parliament in this context by the Estonian Prime Minister, Kaja Kallas, on 3 May 2022, the Italian Prime Minister, Mario Draghi, was the first EU leader to address the Parliament after the latter's Conference of Presidents had endorsed ...

Following Russia's invasion of Ukraine, the EU is considering how it can rapidly reduce its dependence on Russian fossil fuels. The European Parliament has called for an embargo on Russian coal, oil and gas. The European Commission's 'RePowerEU' plan will mark out the next steps.

Russia remains Europe's largest supplier of coal, oil, and gas. This poses a particular difficulty for the EU and its Member States, which are urgently seeking to reduce their energy dependence. This is not only necessary to pressure Russia economically to end its invasion of Ukraine, but also to prevent Russia from weaponising its energy supplies and threatening Europe’s energy security in future. Replacing Russian natural gas will be much more difficult than replacing oil and coal, due to differences ...

The Russian war against Ukraine has a significant impact on the EU seafood sector. Increased prices for energy and raw materials have led to high operating costs for fishermen, aquaculture farmers and fish-processing companies. The European Commission has responded with emergency measures, adapting State aid rules and activating exceptional support from the European Maritime, Fisheries and Aquaculture Fund (EMFAF).

Russia’s war on Ukraine has boosted the already high prices of oil and gas in the European Union, posing a question mark over sustainable deliveries of energy to the bloc. The EU is heavily dependent on Russia for its oil and gas. In 2021, two-fifths of the gas Europeans burned came from Russia. More than a quarter of the EU’s imported crude oil came from the country. The European Commission has announced plans to cut the EU’s dependence on Russian gas by two-thirds this year. Meanwhile, Russia has ...

Russia is a major global commodity producer and exporter. The country's invasion of Ukraine has already pushed commodity prices to historically high levels, and could also lead to commodity shortages. This situation may cause considerable economic damage, with far-reaching consequences for EU industry.

This paper provides a summary of recent analyses of the economic, financial and budgetary developments in the EU and the Euro, notably following the Russian invasion in Ukraine and the outbreak of the war. It also highlights related policy recommendations made in the public domain to mitigate any adverse effects and support sustainable recovery.