EU moves to loosen Russia’s ‘energy stranglehold’

British consumers could end up paying higher prices as a result of European Union measures to reduce Russia’s “energy stranglehold”, as Europe steps up efforts to prevent Moscow using critical gas supplies to blackmail the West.

EU, European Union, Gazprom. Energy Security, Oil, Gas European Commission officials are currently carrying out a feasibility study to examine the creation of gas stockpiles to prevent Russia using the threat of switching the lights out or turning off heating supplies to pressure the EU.

“There will be legislation along the lines of the Strategic Oil Stocks Directive in October or November,” said an official.


The EU’s 2006 Strategic Oil Stocks Directive requires member countries to store “petroleum products equal to at least 90 days of the average daily internal consumption”.

Under the plan, if Russia disrupted supply – as happened after pipelines were shut off during a price dispute with Ukraine in January 2006 – EU member states would be cushioned and reserves could be used to support individual countries singled out by Moscow.

Telegraph