Published July 2022 | Version v1
Journal article Metadata-only

The impact of a European embargo on energy imports from Russia

Creators

  • 1. EPFL, Lausanne (Switzerland)
  • 2. IFP Energies Nouvelles, 1-4 Av. du Bois Preau, 92852 Rueil-Malmaison (France)
  • 3. IFP School, 228-232 Av. Napoleon Bonaparte, 92500 Rueil-Malmaison (France)

Description

We use a macroeconomic model to evaluate the economic impacts of an embargo by the European Union on its fossil energy imports from Russia. In the context of the new 'Fit for 55' climate package, import restrictions are progressively being increased in order to reach a total ban in 2025. Such an embargo would significantly increase the cost of Europe's energy supply. Demand for natural gas is expected to decline in all sectors, with the greatest decline occurring in power generation. The cost would amount to Euros 2,500 per European citizen over the period 2022-2030

Abstract (French)

Nous utilisons un modele macroeconomique pour evaluer les impacts economiques d'un embargo de l'Union europeenne sur ses importations d'energie fossile en provenance de la Russie. Dans le contexte du nouveau paquet de mesures en faveur du climat appele 'Fit for 55', les restrictions a l'importation sont mises en place de facon graduelle pour atteindre un embargo total en 2025. Cet embargo rencherirait significativement le cout de l'approvisionnement energetique de l'Europe. La demande de gaz naturel devrait baisser dans tous les secteurs, le principal contributeur de cette baisse etant la production d'electricite. Le cout s'eleverait a 2 500 Euros par citoyen europeen sur la periode 2022-2030

Additional details

Additional titles

Original title (French)
Impact d'un embargo sur les importations russes d'energie en Europe

Publishing Information

Journal Title
Revue de l'Energie
Journal Volume
663
Journal Page Range
p. 71-83
ISSN
0303-240X

INIS

Country of Publication
France
Country of Input or Organization
France
INIS RN
55095163
Subject category
S29: ENERGY PLANNING, POLICY AND ECONOMY;
Descriptors DEI
CARBON NEUTRALITY; COAL; COST; ECONOMIC IMPACT; EMBARGOES; ENERGY DEMAND; ENVIRONMENTAL POLICY; EUROPEAN UNION; GREENHOUSE GASES; IMPORTS; NATURAL GAS; PETROLEUM; RUSSIAN FEDERATION; SIMULATION
Descriptors DEC
CARBONACEOUS MATERIALS; CLIMATE NEUTRALITY; DEMAND; EASTERN EUROPE; ENERGY SOURCES; EUROPE; FLUIDS; FOSSIL FUELS; FUEL GAS; FUELS; GAS FUELS; GASES; GOVERNMENT POLICIES; INTERNATIONAL ORGANIZATIONS; MATERIALS; TRADE

Optional Information

Notes
10 refs.