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AP National Business

EU leaders seek ways to give support amid high energy prices

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Published 6:21 AM

By SYLVIE CORBET and SAMUEL PETREQUIN
Associated Press

VERSAILLES, France (AP) — European Union leaders on Friday agreed to phase out our dependency on Russian gas, oil and coal imports “as soon as possible.” They also decided to soon draw a plan to support the continent’s economies as they face skyrocketing energy prices amid a crisis aggravated by the war in Ukraine. Heads of state and government gathered for a two-day summit at the Versailles palace, west of Paris. They said in a statement the strategy will involve accelerating the reduction of our overall reliance on fossil fuels diversifying supplies and routes for gas and oil and speeding up the development of renewable energy.  Europe was already facing a tricky test before Russia’s invasion because of an outlook for slowing economic growth accompanied by surging inflation, driven by energy prices.

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