- EU finance ministers on Tuesday agreed on the financing and distribution of a €20 billion ($19.8 billion) fund needed to reduce the bloc’s dependency on Russian energy imports.
- It comes as part of a long-term response to soaring energy prices in the European Union as a consequence of Russia’s war on Ukraine.
- The €20 billion is part of a plan of the European Commission to raise up to €300 billion in loans and grants to boost investments into renewable energy.
Energy crisis: EU agrees funding plan to reduce dependency on Russia 04.10.2022
