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EU to Explore Additional Joint Funds to Support Energy Shift

  • Commission aims to enhance firepower of brand-new instruments
  • Von der Leyen warns against distortions of the single market
Ursula von der Leyen

Ursula von der Leyen

Photographer: Valeria Mongelli/Bloomberg

The European Union will explore ways to raise funding as a bloc to accelerate its plans to cut off from Russian gas despite continuing reservations from some of its member states.

The European Commission president, Ursula von der Leyen, told leaders Wednesday in a letter that the EU’s executive arm will look into other “sources of funding to enhance the firepower of REPowerEU,” the bloc’s initiative to reduce its dependence on energy from Moscow.