economy
March 24, 2026
EU ‘at end of queue’ for Russian energy amid global supply shock
The EU risks being sidelined as Russia expands energy deals amid a global supply crunch due to the US-Israeli war on Iran
TL;DR
- The EU may become the last buyer of Russian energy resources as Moscow expands deals with other nations.
- This situation is exacerbated by the global energy price shock linked to the US-Israeli war on Iran.
- EU energy imports from Russia have declined sharply since 2022 due to sanctions and pipeline damage.
- Moscow has been redirecting its crude oil and gas flows to Asian markets.
- Some European leaders are considering restoring ties with Moscow for cheaper energy.
- Disruptions to global energy flows are expected to persist for months or years, even with a ceasefire.
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