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Andreea - Emanuela Drăgoi, Paul Calanter and Anca - Cătălina Dragomir

Euroinfo, 2022, vol. 6, issue 2, 3-18

Abstract: The invasion of Ukraine by the Russian Federation has significantly affected bilateral relations with theEU, as the European authorities imposed a massive wave of sanctions targeting all sectors of economic cooperation, including the highly controversial energy sector (through the latest package of sanctions, the sixth, adopted on June 3rd 2022, which imposed the embargo on imports of crude oil and petroleum products from Russia). In this highly tense geopolitical framework, and given the EU's well-known energy dependence on fossil fuel imports from the Russian Federation, Europe's energy security is jeopardized amid rapidly deteriorating bilateral relations with Russia. In this context, our paper aims to find the answer to the following research question: is the EU capable, under the auspices of the European Green Deal to cope with a total ban on energy imports from Russia? Our research aims to investigate both the opportunities of the European Green Deal and the challenges for ensuring the EU's energy security, together with the measures proposed by the latest European Plan (RePowerEU) to reduce energy dependence on Russian gas. Our article also presents, through a quantitative analysis based on the latest data on the EU energy mix, the potential role of renewable energy in reducing the EU's dependence on fossil fuels and, implicitly, on energy imports from Russia.

Keywords: EU - Russia bilateral relations; energy imports; energy trade; Green Deal; RePowerEU (search for similar items in EconPapers)
JEL-codes: F00 F01 F18 F51 (search for similar items in EconPapers)
Date: 2022
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Handle: RePEc:iem:eurinf:v:6:y:2022:i:2:p:3-18