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EU agrees on energy dependency reduction plan

European Union (EU) institutions have agreed on the Union’s plan to increase energy supply security with new investments and reduce dependency on Russia.

The European Council reported that a consensus was reached in the talks on the “REPowerEU” plan between the member states and the European Parliament (EP) negotiators. Accordingly, investments and reforms aimed at diversifying energy resources, increasing energy independence and security of supply can be financed under the plan.

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In this context, member states will be able to add a REPowerEU section to the programs they benefit from the “Next Generation EU” recovery program, which was established by the EU after the Kovid-19 epidemic, worth 800 billion euros in total.

Thus, member countries will be able to finance investments in the energy field from this system, and financial resources will be provided for programs that will reduce their energy dependency.

EU Commission President Ursula von der Leyen also used the expression “I welcome the political agreement on REPowerEU” in her social media account.

Von der Leyen stated that with the plan, Europe will establish a future with clean energy instead of Russian gas, and said, “This agreement unlocks important resources to implement our plan for the benefit of the entire EU.” In May, the EU had prepared the “REPowerEU” plan to reduce dependence on Russia in energy. The plan also included the transfer of resources from the EU’s recovery program due to Kovid-19 to the energy field. With the plan, it was envisaged that EU countries would direct 300 billion euros to energy investments.

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