EU Agrees in Trump Deal to Replace Russia’s Oil and Gas with US Fuel

The European Union, as part of a deal with the United States to reduce tariffs from 30% to 15%, has agreed to give up Russian oil and gas and replace them with American fuel, said European Commission President Ursula von der Leyen following talks with US President Donald Trump in Scotland. “We will replace Russian oil and gas with significant volumes of American oil and nuclear fuel,” she said, as quoted by rbc.ru. According to her, “too many” Russian hydrocarbons are still entering the EU, and Europe wants to completely eliminate such imports. Therefore, an agreement was reached to purchase liquefied natural gas and fuel from the US worth $750 billion over three years. The European Commission had previously stated that the Union intends to stop using fuel from Russia by 2027. The deal covers many sectors, including automotive, semiconductors, and pharmaceuticals – for these goods supplied by the EU to the US, a base tariff rate of 15% will apply – “the best that could be achieved,” she noted. For certain products, including aircraft and parts for them, the rate will be zero. For some goods, including alcohol, the tariff has not yet been agreed upon. Trump also stated that the EU had agreed to invest $600 billion in the US economy and would purchase a “huge amount” of military equipment.