The ban on the purchase of fossil fuels is a big decision among the sanctions imposed by all the countries after Russia’s attack on Ukraine. Many countries have started making plans for alternative forms of energy. In particular, the European Community has decided to phase out oil and gas purchases from Russia and promote the use of renewable energy. But this preparation is expected to increase the emissions of carbon rapidly for some time. For the time being, such countries are returning to the use of coal to run the business. During the war Ukraine’s consumption of coal has increased, which is being supplied by Australia. Coal is considered the biggest source of carbon pollution.
In fact, four of the world’s largest fossil fuel companies have decided to exit Russia because of the war. These companies have had to give up assets worth more than $ 20 billion. Germany is one of the biggest buyers of Russian gas, but because of the war, Germany has banned the use of the fully finished pipeline. Russian gas was to be brought directly to Germany through this pipeline.
The US has also banned all Russian fossil fuel purchases. The European Union has announced plans to cut Russian gas imports by 80 percent this year. It also said that it would completely phase out the purchase of gas including coal and oil by 2027 in a phased manner. Within two weeks of the Russian invasion, the European Union announced plans to install wind turbines, solar panels and heat pumps faster than ever before.
Germany has announced to spend 200 billion euros to decarbonize its electricity supply by 2035. Simultaneously, Germany has also announced the construction of two terminals for importing liquefied natural gas, so that Russia can import fossil fuels from other countries. Gas prices in Germany are rising rapidly. Due to this people are returning to the use of coal.
Russia is the world’s largest exporter of oil and fossil gas. Russia has sold fuel worth more than 11 billion euros to the European Union since the attack on Ukraine. This fuel is used to heat homes and generate electricity. Now the challenge of arranging alternative fuel is in front of everyone.
According to Georges Zachmann, climate analyst at Bruegel, a Brussels-based economic think tank, if any sanctions are imposed or Russia stops gas supply altogether, we will have to use more coal and that will reduce carbon in a very short time. There will be more emissions. The European Union has put forward a dual strategy to reduce Russia’s dependence on gas. Investing in green energy will be encouraged by importing fuel from other countries instead of Russian gas.
The EU plans to import 50 billion cubic meters of LNG (liquefied natural gas) every year from countries such as Qatar, Egypt and the US. According to the International Energy Agency (IEA), the thermostat in EU homes is set on average over 22 °C (71 °F). If it is lowered by even one degree Celsius, the demand for gas will decrease by seven percent.
After this figure came out, the leaders of many countries have started appealing to their citizens to save energy. Germany’s Minister of Economy and Climate Protection, Robert Habeck, told his citizens, “If you want to do a little harm to Putin, save energy.” “We can all contribute to ending our dependence on Russian gas by saving energy,” European Commission President Ursula Van Dey Laen said in a statement.