Exclusive: The European Commissioner for Economy, Valdis Dombrovskis, stated that Russia is exploiting the Middle East crisis to boost energy profits, and the EU will maintain strict sanctions to prevent cheaper oil or gas imports.
Valdis Dombrovskis, European Commissioner for the Economy, shared in an exclusive interview with Euronews that the EU “should not” depend on inexpensive Russian fossil fuels and gas as the energy crisis continues.
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“If anything, sanctions against Russia need to be intensified, not relaxed, because Russia is currently capitalizing on the Middle Eastern conflict and elevated energy prices, earning significant extra profits. Therefore, we should avoid facilitating this,” Dombrovskis explained on Euronews’ Europe Today show.
On Tuesday, the UK government issued an open-ended license permitting imports of diesel and jet fuel derived from Russian crude oil from other nations such as Turkey and India, where the oil is bought at discounted rates.
Another license allows short-term service contracts with Russia’s Sakhalin-2 and Yamal LNG projects up to January 2027.
The announcement caught Ukraine and its allies off guard – a rare occurrence given Prime Minister Keir Starmer’s strong support for Ukraine – with 10 Downing Street attributing it to a communication lapse.
When questioned about potential EU rollbacks on sanctions limiting Russian oil and gas imports to help households facing huge energy expenses, Dombrovskis dismissed the idea, emphasizing a “strategic choice” to continue distancing from Moscow.
“Back in 2022, Russia attempted to manipulate and blackmail through its fossil fuel supply, and we suffered a significant economic cost due to dependency on Russia. Hence, reverting to that approach is pointless,” he stated.
Europe’s economy is expected to weaken this year as the conflict in Iran, combined with persistent Middle East tensions, triggers the second-largest energy crisis in five years since Russia’s invasion of Ukraine.
Dombrovskis reassured that Europe is unlikely to face blackouts, a concern raised during the 2022 energy crisis.
EU legislators advocate for a formal ban on all remaining Russian gas imports by 2027 and an accelerated phase-out of oil imports.
The Rome dilemma
On Monday, Italian Prime Minister Giorgia Meloni called on the EU to address the energy crisis with the same urgency as defense issues and suggested relaxing fiscal regulations due to rising energy costs.
In a letter sent Monday to Commission President Ursula von der Leyen and obtained by Euronews, Meloni argued that the EU must demonstrate the same “political courage” in energy matters as it does in defense.
“If defense rightly qualifies as such a strategic priority to trigger the activation of the National Escape Clause, then it is necessary to acknowledge that energy security today also constitutes a European strategic priority,” the letter states.
Dombrovskis indicated that the EU is “examining policy options” to support Rome, but such aid must be “temporary and focused.”
“We are attentive to member states’ concerns and consider appropriate policy responses,” he added.
Watch the full interview in the player above.