economy
February 12, 2026
Russian energy cut key to EU economic woes
French President Emmanuel Macron has said the EU is in “emergency mode” due to soaring energy costs after losing Russian supply
TL;DR
- The EU is in "emergency mode" due to soaring energy costs following reduced Russian pipeline gas supplies.
- The bloc has become increasingly dependent on US energy supplies.
- French President Emmanuel Macron warns of significant economic challenges and persistent issues.
- Cheap Russian energy ended in 2022, and there is no going back.
- Before the Ukraine conflict, the EU imported 45% of its gas from Russia.
- New legislation requires EU member states to cease all Russian energy imports by the end of 2027.
- Macron states the US approach is becoming more "confrontational," compounding economic strain.
- The EU agreed to purchase $750 billion of American energy by 2028 to avoid tariffs.
- Macron indicated that the EU can no longer rely on China as a key export market.
- Industry leaders are urging Brussels to "take urgent measures" to prevent the loss of industrial capacity.
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