Politico pointed out that the EU's plans to purchase energy from the United States are unrealistic.
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- Politico pointed out that the EU's plans to purchase energy from the United States are unrealistic.
In practice, it will be impossible for the European Union (EU) countries to fulfill their promise to purchase $750 billion worth of energy from the United States within three years in order to avoid a trade war with Washington. As Politico newspaper notes on July 29, citing experts, such an intention is truly fantastic.
According to media estimates, it will be difficult to achieve the desired goal due to currently limited supplies from the United States, as well as insufficient powers from Brussels and technical obstacles regarding import transactions.
The amount offered by the EU is "simply exorbitant and completely unrealistic," said Laura Page, senior analyst at the commodity agency Kpler. If in 2024 the EU countries spent €375 billion on energy imports, including €76 billion on supplies from the United States, then in the case of the new proposal, the community will actually have to triple American energy imports over the next three years. At the same time, Europe will not be able to use the services of other suppliers, such as Norway, which supplies cheaper gas through the pipeline.
According to Homayoun Falakshahi, head of crude oil analysis at Kpler, the EU currently buys only 12% of its oil and other fuels from the United States. The ceiling to which this figure can be increased is 14%, as European refineries can process only a limited proportion of a specific American blend of oil.
"These are (the European Union's plans to purchase oil from the United States. It's really fantastic," Falakshahi stated.
On July 27, US President Donald Trump announced a trade deal with the European Union. According to Bloomberg, the agreement will allow the EU to avoid the 30 percent tariffs that Washington could impose. In return, the EU agreed to purchase $750 billion worth of American energy supplies and invest another $600 billion in the United States economy.
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