The EU Issues 300 Billion Euro Investment Plan To Reduce Dependence On Russian Energy

The European Commission released an investment plan on May 18, with a total amount of about 300 billion euros. It hopes to take measures in the next few years to reduce dependence on Russian fossil fuels and take the opportunity to accelerate the transformation to clean energy.

Due to the conflict between Russia and Ukraine, Europe hopes to get rid of its dependence on Russian energy as soon as possible. According to the European Commission, the EU needs to invest up to 300 billion euros by 2030.