The European Union has decided to extend the agreement on voluntary reduction of gas consumption for a year. European officials decided to do this to prepare gas reserves for next winter.

The EU has a serious energy dependence on Russian gas, since more than 40 percent of its gas comes from Russia. This dependence creates a number of risks and problems for the EU.

Russia can use its position as the main gas supplier for political purposes and put pressure on the EU through energy supplies. This leads to an imbalance in the political relations between the two.

Energy dependence is bad for the EU’s energy security as a whole. In the current crisis, the ability to supply gas could be disrupted.

Because of these reasons, the EU seeks to diversify its energy sources and reduce its dependence on Russian gas. This includes the use of alternative energy sources, such as solar and wind power, as well as the import of gas from other countries.

In summer 2022 the European Union approved the decision on a voluntary reduction of gas consumption by 15% compared to the average over the last five years against the background of difficulties with energy supplies from Russia and the gradual refusal to purchase Russian gas.

Earlier, we reported that oil prices are fluctuating under the influence of contradictory factors.