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Despite reducing its fossil fuel imports since the invasion of Ukraine, the EU still heavily relies on foreign reserves. According to Eurostat, in 2023, the bloc’s energy dependency rate reached 58%, meaning that imports accounted for more than half of the EU’s energy needs.
While import reliance varies across member states, 65% of the EU's overall energy imports in 2023 were oil and petroleum, 25% were natural gas, 5% were solid fossil fuels, and only 2% were renewables.
The ongoing conflict in the Middle East shows that energy independence is out of reach. Higher fossil fuel prices highlight how relying on foreign energy hurts the European economy, weakens the single market, and makes the EU more vulnerable to global tensions.
The EU’s 2025 Grids Package aims to address these problems. By building a connected energy network across borders, the plan hopes to create a single EU energy market, cut down on imports, and help 450,000 Europeans avoid a new energy shortage.
The EU Commission is preparing more steps in response to events in the Middle East. The next major opportunity for leaders to discuss these issues will be at the European Grids Summit in April 2026.
Do you want to know what the new EU Grid Package foresees? Ask the Euronews AI chatbot!
Team D.R. failed to cash in on run-scoring chances throughout the semifinal game, but the USA also got some help from a pair of questionable strike calls.
At the 1978 World Cup, a mistake by a member of France's staff led to what ended up being a 40-minute delay while organizers scrambled for a solution.
The USA captain uncorked a 95.7-mph lightning bolt to throw out Fernando Tatis Jr. to end the third inning.
It’s another edition of ‘Mock Draft Monday’ with The Ringer’s Danny Kelly. He joins Matt Harmon to provide his five favorite potential fantasy fits for some of the top prospects in this year’s draft. Kelly reveals the perfect destinations for 4 WR prospects and the TE who stole the show at the combine. Lastly, Kelly stands on the table for a prospect who has the makings to be the next Amon-Ra St. Brown.
Paul Thomas Anderson wins big for "One Battle After Another," Michael B. Jordan nabs Best Actor over Timothée Chalamet after last-minute controversy, and the stars dazzle at the 98th Academy Awards.
With oil trading more than $25 per barrel above pre-Iran war levels, Wall Street is factoring in the impact of rising energy prices on inflation, bond yields, and risk appetite.
It's March and that means basketball! Here's how to catch every game of the women's March Madness college basketball tournament.
The Wolverines lost the Big Ten tournament title game on Sunday but may have a more favorable Final Four path than Duke.
After going First Four Out on the tournament bracket, the Hoosiers are choosing to end their season completely.
Dallas Goedert isn't going anywhere after all.