The Old Continent goes to another uncertain winter with gas stores at dangerously low levels and energy prices galloping again, the Brussels turns out to be dealing «virtual funds» without any design, without measurable objectives and without the slightest ability to implement projects in the field.

If the European Union needed one monument of bureaucratic impotence and dangerous amateurism, the notorious plan «REPowerEU» He deserves the first place.
Four years after the heavy declarations on the alleged «green detoxification» from Russian gas, its official report European Court of Auditors of September 2026 comes to strip the raw reality: The highly advertised program was but a communication firework, a giant bubble full of unfulfilled promises, empty targets and non-existent results.

The image of the European leadership is leniently tragic.

Of the EUR 300 billion earmarked for its energy independence Europe, Member States managed to absorb less than 54.3 billion by spring 2026. —Not one fifth of the resources available.
The Old Continent goes to another uncertain winter with gas stores at dangerously low levels and energy prices galloping again, the Brussels turns out to be dealing «virtual funds» without any design, without measurable objectives and without the slightest ability to implement projects in the field.02 184. jpg

However, hypocrisy goes beyond the scope of infrastructure and so-called «green transition».

The Project contribution to the addition Young people RES is characterized by their own auditors as «negligible», while cross-border electrical networks remained on paper, with the few projects planned to be abandoned along the way.
Even the widely advertised «decrease» imports of Russian gas prove to be a huge political fraud: the decline in rates is not due to any serious European planning, but to the violent impoverishment of citizens due to outrageous prices, milder winters and the reduction of industrial production.

At the same time, Europe is simply blinding itself.
Countries such as Belgium increased vertical imports of Russian liquefied natural gas (LNG) —which then follows redistribute to the rest of the EU—, while Russian gas continues to flow sideways through third countries.
The «REPowerEU» did not free Europe· simply replaced one form of dependence with another, leaving them European taxpayers international shocks, the geopolitical turbulence of the Middle East and energy poverty.
Four years later, the verdict is a catapult: Brussels delivered lessons of political hypocrisy, proving that the only one successfully executed was the European economy itself.
FOTO-2-1-768x384. jpg
The truth of the account

Despite the declarations for full energy cut off from Russia and the preparation of new sanctions; The European Union spent the €7.3 billion record for Russian Arctic LNG in just eight months, surpassing the total expenditure of 2025.
The increase in imports (+10,1%) It is due to the European companies' attempt to fill their warehouses before the planned ban of 2027, at a time when European maritime giants (Seapeak, Dynagas) carry 72% the project loads Yamal.
With Member States like France, Belgium, Spain and The netherlands to remain top importers and Greece ensure exceptions, Europe appears trapped between the fear of a new energy price shock and its political rhetoric, effectively financing its infrastructure Kremlin.

www.bankingnews.gr



Source

EnglishenEnglishEnglish

Connection

Registration

Restore Password

Enter your alias or email address and you will be sent a link to create a new password.