Ursula von der Leyen

The European Union intends to mobilise up to 300 billion euros of investments by 2030 to end its reliance on Russian oil and gas, European Commission ...

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US President Joe Biden listens while European Commission President Ursula von der Leyen makes a statement about Russia at the US Chief of Mission residence ...

Amid the ongoing war, the European Union on Wednesday proposed an additional €9 billion ($9.5 billion) in macro-financial assistance for Ukraine in 2022.

He added that the funds would be used to purchase heavy weapons, bringing the EU's total financial support for Ukraine to 2 billion euros ($2.1 billion). "These investments will help Ukraine emerge stronger and more resilient from the devastation caused by the Russian military," she added. European Council President Ursula von der Leyen stressed that that bloc will continue to be on Ukraine's side throughout this war and they start rebuilding.

The EU money for reconstruction should come with conditions that Ukraine commit to reforms needed for it to reach its goal of one day joining the bloc, ...

Gurdeep Pandher, 37, resident of the town of Brampton in the Greater Toronto Area, was arrested and charged by Peel Regional Police, a spokesperson for them informed the Hindustan Times. The country's anti-virus headquarters announced 232,880 new cases of fever and another six deaths in state media Wednesday. It said at least 691,170 remain in quarantine. The plan calls for 210 billion euros in investment between now and 2027. Ukrainian prosecutor general Iryna Venediktova previously said her office was readying war crimes cases against 41 Russian soldiers for offences that included bombing civilian infrastructure, killing civilians, rape and looting, news agency AP. The money would be raised by the EU on the markets and offered to Ukraine in the form of loans, an official in von der Leyen's European Commission told AFP. In a broadcast statement, von der Leyen also said it was time to think about rebuilding Ukraine whenever the war ends, adding the EU has "a strategic interest in leading this reconstruction effort".

The European Commission unveiled a more detailed plan May 18 to diversify its supplies of energy away from Russia and to accelerate the expansion of clean ...

"We will therefore increase the EU energy efficiency target for 2030 from 9% to 13%. And we are increasing the 2030 target for EU renewable energy from 40% to 45%," von der Leyen said. The EC also proposed an operational way forward to implement its recently unveiled platform for the joint purchase of natural gas, LNG and hydrogen, with a joint procurement mechanism and a joint outreach to supplying countries, von der Leyen said. "Energy savings are the quickest and cheapest way to address the current energy crisis," European Commission President Ursula von der Leyen said in a speech in Brussels.

The European Union's executive arm is moving to jump-start plans for the EU to abandon Russian energy amid the Kremlin's war in Ukraine.

The European Commission also proposed ways to streamline the approval processes in EU countries for renewable projects, which can take up to a decade to get through red tape. The bloc’s dash to ditch Russian energy stems from a combination of voluntary and mandatory actions. It comes amid troubling signs that have raised concerns about energy supplies that the EU relies on and have no quick replacements, including Russia cutting off member nations Poland and Bulgaria after they refused a demand to pay for natural gas in rubles.

The European Union intends to mobilize up to 300 billion euros in investment by 2030 to end its dependence on Russian oil and gas, European Commission ...

Von der Leyen also announced 9 billion euros in macro-financial assistance to Ukraine, as well as the creation of a recovery platform to help Ukraine on its path to EU membership. The EU will mobilize about 300 billion euros for the plan, including 72 billion euros in grants, 225 billion euros in loans and 2 billion euros "in oil infrastructure to cut off Russian oil supplies". The European Union intends to mobilize up to 300 billion euros in investment by 2030 to end its dependence on Russian oil and gas, European Commission President Ursula von der Leyen said on Wednesday.

The European Union has unveiled a €210 billion ($221 billion) plan to wean itself off Russian oil and gas.

"Untying Europe from its largest energy supplier it going to be difficult," Kadri Simson, European commissioner for energy, said at a news conference. The additional solar energy produced could replace the consumption of 9 billion cubic meters of natural gas annually by 2027, the Commission said in a press release. Europe will encourage citizens and businesses to curtail their energy use — such as by switching off lights and using less air conditioning — and believes these steps could reduce its demand for oil and gas by 5% in the short term. Wednesday's plan set out how the bloc would respond if Russia turned off the taps completely. "When Europe acts together, it has more clout," von der Leyen said of the joint procurement program. in late February, the bloc has sought to reduce its dependence on Russia's vast energy exports.

Additionally, member states had approved around €2 billion to finance weapons and military equipment for Ukraine.

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By Laurence Norman The European Union's executive agency proposed for the first time up to 9 billion euros ($9.5 billion) in assistance to help Ukraine pay.

Ms. von der Leyen said the money would be tied to deep economic and political reforms in Ukraine. The IMF disbursed $1.4? billion of emergency financing on March 9 to Ukraine. It isn't yet clear if any of the money will come as a grant. This item was corrected at 12:07 p.m. ET to show that the IMF disbursed $1.4 billion of emergency financing on March 9 to Ukraine. An earlier version incorrectly said the IMF has agreed on a $5 billion loan for Ukraine. The EU is looking to partner with the U.S. and other western partners on a reconstruction fund. She said the EU will set up a reconstruction platform jointly with the Ukrainian government to begin making plans for a future reconstruction.

But the money may be tied to rule of law reforms, meaning Hungary may not see it.

"We are continuing that dialogue, and the possibility for funding to be RRF, or additional funding, may be an additional element in this dialogue." "So the type of investments that we are envisaging are mainly benefiting and targeting those countries." "Ninety-five percent of overall financing will go into speeding up and scaling up the energy transition," said Commission President Ursula von der Leyen at a press conference.

The European Union's executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin's war in Ukraine, ...

The European Commission also proposed ways to streamline the approval processes in EU countries for renewable projects, which can take up to a decade to get through red tape. "Most of the actions entailed in the plan require either national implementation or strong coordination among member states," Tagliapietra said. Meanwhile, a proposed EU oil embargo has hit a roadblock from Hungary and other landlocked countries that worry about the cost of switching to alternative sources. It comes amid troubling signs that have raised concerns about energy supplies that the EU relies on and have no quick replacements for, including Russia cutting off member nations Poland and Bulgaria after they refused a demand to pay for natural gas in rubles. The European Commission's investment initiative is meant to help the 27 EU countries start weaning themselves off Russian fossil fuels this year. The bloc's dash to ditch Russian energy stems from a combination of voluntary and mandatory actions.