The UK states that "green" trade deals can help to end global dependence on Russian oil and gas. Britain's trade minister Anne-Marie Trevelyan announced the presentation of a corresponding plan that would foster the "de-Putinization" of the global economy, Reuters reports.
"This terrible conflict has underlined what can be achieved through a cohesive global approach. It has also reminded us that, most urgently, we must de-Putinise the world’s economy… These past months have highlighted the need to accelerate our journey as a global community away from hydrocarbons: to decisively turn our backs on the era of dependence on polluting fuels, and transition to a Net Zero future," Trevelyan stated.
According to the publication, the minister will announce loan guarantees for green businesses for 190 million pounds.
What's more, the European Commission is today announcing a €210bn plan to allow Europe to phase out Russian fossil fuels by 2027. Moving away from Moscow will also help accelerate the transition to clean energy.
To wean countries off this fuel, Brussels will propose a tripartite plan that includes the following paragraphs:
- shift to importing more non-Russian gas,
- rapid introduction of renewable energy sources,
- additional energy conservation efforts.
Context. As reported, Gazprom's production in 2022 would drop to a 5-year low over the sanctions.