With each passing day, buyers are refusing to cooperate with Russian energy suppliers. Moreover, many are planning to completely abandon oil and gas imports from Russia. For instance, the EU intends to reduce its dependence on Russian energy supplies to zero by 2027.

According to European Commissioner for Economy Paolo Gentiloni, the European Union aims to cut its reliance on Russian oil and gas by two-thirds by the end of the year and to zero by the end of 2027. “As the evolution of various packages of sanctions will most probably include energy, we are dealing with it. The first goal is to reduce the dependence on Russian oil and gas by two-thirds by the end of this year to bring it to zero by 2027, while the second is to develop a strategy that will not slow down the climate shift,” Gentiloni said.

European countries agree on the need to ditch Russian energy by turning to other suppliers. The United Arab Emirates has the potential to become a future supplier of commodities to Europe. In May, Europe will receive a shipment of oil from this country for the first time in two years. A tanker loaded with about a million barrels of crude is expected to arrive in the UK.