EU lays out energy crisis plan, says solidarity with Ukraine unshakeable

By Yves Herman and Gabriela Baczynska

STRASBOURG (Reuters) -The European Fee on Wednesday unveiled a sequence of proposals to curb the power value spike that has rocked Europe within the wake of Russia’s invasion of Ukraine, whereas stressing that the EU’s solidarity with Kyiv can be “unshakeable.”

Vitality costs and inflation have surged throughout the 27-nation European Union as Moscow slashed gasoline provides in response to sanctions, prompting some, particularly on the far-right, to argue that the sanctions had been hitting the EU extra and needs to be softened.

However with Ukrainian first woman Olena Zelenska the visitor of honour as she delivered her annual state of the union speech within the EU’s parliament, von der Leyen stated sanctions had been having an actual influence on Russia and had been there to remain.

“That is the time for us to indicate resolve, not appeasement,” stated von der Leyen, who was set to journey to Kyiv in a while Wednesday to satisfy Ukrainian President Volodymyr Zelenskiy. “We’re in it for the lengthy haul.”

“And I stand right here with the conviction that with braveness and solidarity, Putin will fail and Europe will prevail,” she informed the meeting in Strasbourg, France, sporting blue and yellow – the colors of each Ukraine’s and the EU flags.

Von der Leyen, whose proposals to assist European households and firms embrace imposing cuts in electrical energy utilization throughout the bloc, stated the bloc was working to guard households and companies.

“Making ends meet is turning into a supply of hysteria for thousands and thousands of companies and households,” she stated, proposing measures to cap revenues from low-cost electrical energy mills and power fossil gasoline companies to share the earnings they make from hovering power costs.

“In these occasions it’s improper to obtain extraordinary file revenues and earnings benefiting from warfare and on the again of our customers. In these occasions, earnings have to be shared and channelled to those that want it most,” she stated.

“LIFE-SUPPORT”

At a time when Ukraine is engaged on securing territory it has reclaimed from occupying Russian forces in a swift counter-offensive, von der Leyen stated this was not the time for the bloc to melt its stance.

“Russia’s monetary sector is on life-support”, she stated, including that just about one thousand worldwide corporations have left the nation. “The Russian army is taking chips from dishwashers and fridges to repair their army {hardware}, as a result of they ran out of semiconductors. Russia’s trade is in tatters.”

She stated Europe had diversified away from Russian power, however Moscow was nonetheless “actively manipulating” the market and gasoline costs have risen by greater than 10 occasions in comparison with earlier than the COVID-19 pandemic.

Trying past the warfare in Ukraine, von der Leyen stated Moldova, Georgia and Western Balkan nations had been additionally a part of “our household” and the way forward for the EU.

Paying tribute to Britain’s Queen Elizabeth, who died final week aged 96, von der Leyen stated the present crises reminded her of phrases the Queen as soon as stated: “We’ll succeed – and that success will belong to each one in every of us.”

(Reporting by Kate Abnett, Gabriela Baczynska, Marine Strauss, Jan Strupczewski, Phil Blenkinsop; Writing by Ingrid Melander; Modifying by John Chalmers)