The Prime Minister of Italy, Mario Draghi has stated his country could be independent of Russian gas by the second half of 2024, which was longer than earlier estimates.
Africa Daily News, New York reports that the eurozone’s third-largest economy is heavily dependent on Russian gas but has been seeking new sources since Moscow’s invasion of Ukraine, including with a deal to boost supply from Algeria.
Addressing the Senate, Draghi on Thursday stated his government was also seeking to boost its production of renewable energy, including by ‘destroying bureaucratic barriers’ to investment, saying it was the ‘only way’ to free Italy from having to import fossil fuels.
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‘Government estimates indicate that we can make ourselves independent from Russian gas in the second half of 2024,’ he told lawmakers while adding that the ‘first effects’ of this plan would be felt by the end of this year.
In April, Italy’s Ecological Transition Minister Roberto Cingolani estimated the country would no longer need Russian gas within 18 months, following an earlier prediction that it could take up to three years.
Africa Daily News, New York reports that in 2021, 40 percent of the natural gas that Italy imported came from Russia.
Draghi repeated his strong support for EU sanctions on Moscow, including a proposed ban on imports of Russian oil, although this is currently being blocked by Hungary.
‘We must continue to keep up the pressure on Russia through sanctions, because we must bring Moscow to the negotiating table,’ he said.
Meanwhile, American fast-food giant McDonald’s has concluded plans to exit the Russian market and sell its business in the increasingly isolated country, the company has disclosed.
Africa Daily News, New York reports that the company would now become the next on the list of many Western businesses have pulled out of Russia since its February invasion of Ukraine.
