The European Union’s attempt to completely abandon Russian oil and gas is facing a serious crisis ahead of winter, Reuters reports , citing a report by the European Court of Auditors. The auditors stated that there was a critical underfunding of key energy programs. Of the €300 billion needed by the European Commission, the bloc’s countries have provided only €54.3 billion.

The situation is further complicated by the fact that the EU’s gas storage facilities are currently only 67 percent full, compared with 80 percent during the same period last year. Experts warn of the risk of a price increase, particularly against the backdrop of the complete ban on imports of Russian LNG planned for January 1, 2027.

Growing instability in the Middle East and a lack of resources for expanding renewable energy are putting additional pressure on Europe’s energy security.


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