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Mar 23, 2022 - Energy & Environment

The energy fallout from Russia's war in Ukraine

Ben Geman
Biden illustrated against Ukrainian and Russian flags

Photo illustration: Aïda Amer/Axios. Photo: Eric Lee/Bloomberg via Getty Images

President Biden will use meetings with European leaders this week to push new steps to curb the continent's huge reliance on Russian oil and natural gas.

Driving the news: "He will announce joint action on enhancing European energy security and reducing Europe’s dependence on Russian gas at long last," national security adviser Jake Sullivan said at the White House yesterday.

  • Biden flies to Brussels today for meetings this week with NATO and G7 leaders.

The big picture: Here's more on the energy fallout from Russia's invasion of Ukraine.

  • Big Oil: "TotalEnergies, the French oil and gas company, said on Tuesday that it would stop buying Russian oil by the end of the year and halt further investment in projects in the country," the New York Times reports.
  • Natural gas: Several climate NGOs are out with a report this morning arguing that Europe can end reliance on Russian gas "without stalling the end of coal power generation or building new gas import infrastructure." The report is from Ember, E3G, the Regulatory Assistance Project and Bellona.
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