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Climate Politics

EU Seeks 15% Cut in Gas Use on Russian Supply Squeeze

  • European Commission unveils plan to guide bloc through winter
  • It recommends reducing heating and cooling, fuel switching
Bloomberg business news
WATCH: The European Union is bracing for a potential full cutoff in Russian gas supply. Su Keenan reports.Source: Bloomberg
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The European Union proposed that the bloc cut its natural gas consumption by 15% over the next eight months in a plan that would affect all households, power producers and industry.

The move reflects mounting concern that Russia will halt gas exports to the region in retaliation for sanctions following its invasion of Ukraine. A cutoff would threaten EU efforts to replenish stockpiles ahead of winter, potentially jeopardizing security of supply to key sectors and crippling the region’s economy well into next year.