The World Energy Outlook report by the International Energy Agency prioritizes energy security over climate change due to global tensions over resources such as Russian gas. However, the need to invest in renewable and nuclear energy for the energy transition and system security is recognized.
Ukraine’s energy sector, inherited from the Soviet era, faces modern challenges and dependence on Russian sources. Since the 2014 Revolution, Ukraine has been integrating with the EU and reforming its energy sector. The 2022 Russian invasion sought to cut off electricity, but Ukraine showed resilience. Prior to 2022, the sector was opaque and dominated by monopolies.
The new EU-US trade agreement imposes tariffs on European exports and requires energy investments and purchases. European dependence on the US could increase, generating economic instability and undermining strategic autonomy, favorable to China.
