EU Announces , Accelerated Plan to Reduce , Dependency on Russian Energy.<br />Al Jazeera reports that the European Commission <br />has revealed a $220 billion plan to end the bloc's<br />dependence on Russian fossil fuels in the next five years. .<br />Al Jazeera reports that the European Commission <br />has revealed a $220 billion plan to end the bloc's<br />dependence on Russian fossil fuels in the next five years. .<br />The package, REPowerEU, also <br />reportedly accelerates the EU's <br />plan to transition to green energy.<br />We are taking our ambition to yet another level to make sure that we become independent from Russian fossil fuels as quickly as possible, Ursula von der Leyen, EU Commission President, <br />via Al Jazeera.<br />Al Jazeera reports that Russia <br />supplies 40% of the EU's gas <br />and 27% of its imported oil. .<br />In August, an EU plan <br />to ban Russian coal <br />will take effect. .<br />The bloc has also pledged to reduce the demand for gas from Moscow by two-thirds by the end of 2022.<br />The bloc has also pledged to reduce the demand for gas from Moscow by two-thirds by the end of 2022.<br />Hungary and other landlocked countries have opposed <br />the EU's proposed oil embargo, citing concerns about <br />the cost of switching to alternative sources.<br />Hungary and other landlocked countries have opposed <br />the EU's proposed oil embargo, citing concerns about <br />the cost of switching to alternative sources.<br />RePowerEU will help us to save more energy, to accelerate the phasing out of fossil fuels and, most importantly, to kick-start investments on a new scale, Ursula von der Leyen, EU Commission President, <br />via Al Jazeera.<br />New investments reportedly include $90 billion <br />for renewable energy, $28 billion for hydrogen infrastructure, $30 billion for power grids <br />and $59 billion for energy savings. .<br />New investments reportedly include $90 billion <br />for renewable energy, $28 billion for hydrogen infrastructure, $30 billion for power grids <br />and $59 billion for energy savings.
