U.S. and EU set up task force to reduce Europe's dependence on Russian gas and oil

U.S. and EU set up task force to reduce Europe's dependence on Russian gas and oil

The U.S. and the EU have announced the creation of a 'task force' to reduce Europe's dependence on Russian gas.

U.S. President Joe Biden said during his meeting with European Commission President Ursula von der Leyen on Friday that "we are coming together to reduce Europe's dependence on Russian energy". Von der Leyen, for her part, said that she expects US gas to replace Russian gas in the EU.

According to the White House's statement, "the United States will work with international partners and strive to ensure additional LNG volumes for the EU market of at least 15 bcm in 2022, with expected increases going forward."

Russia supplies 40% of the EU's gas and over a quarter of the oil it imports.

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