Italy believes natural gas supplies from Russia to EU may be cut off in May: Report

Amid the relentless war in Eastern Europe, Italy believes that natural gas supplies from Russia to the European Union could be cut off in May as paying for Russian energy in rubles violates European sanctions. In an interview with Italian daily, Corriere della Sera, Stefano Bessegini, head of Italy's Regulatory Service for Energy, Grids and the Environment, stated that this can really happen in May and there could also be a risk of not filling the storage facilities completely, RIA Novosti reported. 

In response to Western sanctions on Russia, Italian Prime Minister Mario Draghi has emphasised the importance of taking steps to reduce reliance on the Russian Federation in the energy sector. He also advocated for an increase in natural gas imports from other nations, specifically from Azerbaijan, Algeria, Tunisia, and Libya. During Draghi's visit to Algeria earlier this month, the two nations' leading oil and gas corporations signed a deal to boost the supply of blue fuel to the Apennines, which will eventually grow by 9 billion cubic metres per year.

Russia blames Western countries for destabilising market

Russian President Vladimir Putin has accused Western nations of destabilising the market and raising prices, while blaming its green energy shortfall on the current conflict in Ukraine. He also warned that the phase-out of Russian gas imports would be harmful to their economies. Chairing a meeting of the country's oil and gas sector last week, Putin slammed Western countries stating that "now they have a fantastic reason to cover up their mistakes and blame everything on Russia." 

EU vows to completely phase out Russian fuel imports

It is pertinent to mention here that the European Union has pledged to completely phase out Russian fuel imports in the coming years. Earlier this month, the 27-member bloc announced its fifth package of sanctions on the Russian Federation. Notably, the package includes a full-fledged ban on Russian coal imports. While the new sanctions came into force on April 8, a total ban on Russian coal imports is expected by mid-August. Meanwhile, Russian Deputy Prime Minister Alexander Novak has claimed that the EU will not be able to fully replace Russian oil and gas in the next five to 10 years. 

Image: AP