The Impact of the Russia-Ukraine War on EU Energy Security
Year: 2024
Type: article
Abstract: The Russia-Ukraine war has greatly affected the energy security of the European Union (EU), setting a new paradigm for the region to address its policies and strategies on energy issues. The EU had traditionally relied on Russian energy imports, while the current disruptions in the supplies of natural gas, oil, and coal brought unprecedented challenges to the region, which is now making it adopt urgent diversification. Simultaneously, the war has intensified diplomatic and economic cooperation with alternative suppliers of energy--Norway, the United States, and North African countries--in an effort to reduce dependence on Russian resources. Along these lines, ithas put some very bold policy in place to promote energy efficiency and reduce consumption in relation to building an increase level of resilience towards future shock from supply disruptions. Geo politics arising from the war also places under sharp focus the argument for a unitary EU energy policy by strengthening an integral relationship of mutual accord between the different member countries. As a result, it is placing the EU under an energizing challenging landscape, balancing short-term needs with long-term goals in relation to sustainability. Short term, the war impacts increased the energy prices in all the European households and industries, which can further contribute to socio-economic issues including inflation and perhaps slowdown economies.
Source: Social Sciences Spectrum
Institution: Minhaj University Lahore
Language: English
Subfield: General Energy
Field: Energy
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4406070209