Europe Drops Energy Curtain
"The European Commission’s proposed energy reforms seemed shockingly strict toward investors outside of the EU. The energy reform suggested by Europe and the reform United Energy Systems of Russia (UES), would close the door on Gazprom buying energy networks in the EU until Russia and the EU sign a cooperation agreement and Gazprom is divided into production and transportation components. The project was presented yesterday by the European Commissioner for Competition Neelie Kroes and must still be ratified by the countries of Europe. The reforms’ primary concern is Europe, not Russia. Three European Commissioners, Commission President Jose Manuel Barroso, EU Competition Commissar Neelie Kroes and EU Energy Commissar Andris Piebalgs, presented the project to reform the energy market of Europe, initiated in accordance with a European Commission ruling in June. Vladimir Putin, during a visit to Australia, expressed suspicion that the project would include protectionist measures against investment by Russian companies. His suspicions were overwhelmingly justified. The document, if ratified by the Council of the European Union’s 27 energy ministers and the European Parliament, would block Gazprom from investing in European energy."
Note EU-Digest: This seems to be action in the right direction by the EU to develop a level playing field with Russia.
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