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U.S., Europe Closing In on Deal to Cut Demand for Russian Energy

  • Plan aims to ensure supply of U.S. natural gas to EU states
  • Dimon pushed Biden to make ‘Marshall Plan’ for gas production
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WATCH: JPMorgan Chase CEO Jamie Dimon told President Biden that the U.S. needs a “Marshall Plan” for developing more domestic natural gas.Source: Bloomberg
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The Biden administration and European Union are close to a deal aimed at slashing Europe’s dependence on Russian energy sources, as the U.S. and its allies seek to further isolate and punish Moscow for the Ukraine war.

President Joe Biden’s national security adviser, Jake Sullivan, said that an agreement would be announced as soon as Friday. It’s intended to ensure supplies of American natural gas and hydrogen for Europe, according to an official familiar with the plans.