Borrell: Europe depends on Russian oil, gas

High Representative of the European Union Josep Borrell declared on Monday that Europe would most likely have to pay in one way or another for its dependence on Russian oil and gas.

Questioned about the possible effects of the sanctions imposed on Russia, Borrell mentioned that it is in the bloc’s policy to decrease its links. Nevertheless, “we have a dependency on Russian oil and gas,” he said. Besides, he even alerted that there will be “turbulences” in the market; nevertheless, it’s necessary to make a change towards “renewables and hydrogen.”

“Our actions and reactions against Russia will have economic consequences, and we have to be prepared for that,” he emphasized.

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