All the world's developed countries have long understood that they depend on Russian energy resources. Given the nature of Russia's managers, Europeans wanted to end gas relations. But it was only after Russia's full-scale invasion of Ukraine that Europeans began looking for effective ways to abandon deadly Russian gas. Thus, following the oil embargo, the European Union countries signed a memorandum with Egypt and Israel.
According to the Associated Press, Israel and Egypt delivered 40% of the gas to Europe last year. Within the framework of the memorandum, Europeans will increase financial support to countries producing natural gas. This will enable Israel and Egypt to develop gas processing and production industries. New volumes and gas pipelines will increase gas supplies to Europe. Thus, developed countries will move away from dependence on the aggressor country.
The memorandum has already entered into force. The first deadline for its completion will be three years from now. But under the terms of the agreement, if neither side wants to break off the relationship, the cooperation is extended for another two years. Thus, the EU estimates it will take 4.5 years and €210 billion to abandon Russian oil and gas.
"It is known that Russia's war against Ukraine has exposed the EU's dependence on Russian energy, and we want to get rid of this dependence," said European Commission president Ursula von der Leyen during the signing ceremony of the memorandum.