G7 countries announced a decrease in dependence on Russian fuel

This trend was also facilitated by energy savings and a decrease in gas demand achieved through alternative energy sources. G7 countries intend to end their continued dependence on Russian gas as quickly as possible, and increasing supplies of liquefied natural gas (LNG) might play an important role in this process.

The meeting participants also recognized the need for a new acceleration of the transition to clean energy, which in itself will reduce the need to import fossil fuels.

Soon following the outbreak of hostilities in Ukraine, the EU countries, the USA and Great Britain imposed an embargo on the supply of Russian coal, oil and petroleum products. However, Europe and the UK purchase Russian gas, including in the form of LNG, and petroleum products processed in third countries from Russian oil.

Nevertheless, the EU continues to discuss a ban on gas imports. Swedish Foreign Minister Tobias Billström announced the corresponding plans for unification. Perhaps a new embargo will become part of the 14th package of sanctions.

Europe began to think regarding such a step following the second winter period in a row, which ended with record gas reserves in storage, as well as due to a significant decline in fuel prices.