Europe’s Dependence on Russian Gas: State of Play and Prospects

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2022

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Carl Grekou et al., « Europe’s Dependence on Russian Gas: State of Play and Prospects », Revue d'économie financière, ID : 10670/1.441fb3...


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The war in Ukraine is shaking up the European energy scene and its dependence on Russia. This article analyzes the stakes and challenges for Europe of the Russian-Ukrainian conflict on the gas market. It first highlights the evolution and extent of the dependence of European economies on Russian gas and discusses the economic impacts that have been evident since the beginning of the hostilities. It then describes the various responses implemented in Europe to emancipate itself from this dependence. Finally, it discusses some of the blind spots in European decisions and outlines various ways to overcome them. Classification JEL : F23, L23, L62.

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