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Obama hints US could help EU reduce need for Russian energy

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Obama hints US could help EU reduce need for Russian energy


Visiting EU headquarters in Brussels, President Barack Obama has indicated that US exports could help Europe reduce its reliance on Russian energy.

This would happen within the context of a proposed free-trade deal between the United States and the European Union.

“Once we have a trade agreement in place, export licences for projects, for liquified natural gas destined for Europe would be much easier, something that is obviously relevant in today’s geopolitical climate,” Obama told a news conference at the end of an EU-US summit.

Russia currently provides around a third of the EU’s oil and gas. Some 40 percent of that gas is shipped through Ukraine.

But with tensions high over Russia’s annexation of Crimea, the Europeans are eager to reduce their dependency on Moscow.

The EU-US trade deal, dubbed the TTIP (Transatlantic Trade and Investment Partnership), would be the world’s biggest accord of its kind.

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