Port of Rotterdam
Letter from Western Europe: Europe’s balancing act
As tragedy continues to unfold in Ukraine, European leaders hasten to balance security, affordability and sustainability in the energy sector
An energy crunch was already underway before war erupted in Eastern Europe. But it took the potential loss of Russian oil and gas to drive home the fragility of Europe’s energy security situation. Western hesitation over strict sanctions on Russian energy is understandable in the context of Europe’s dependence on it. However, we are already halfway down the path to lower Russian oil outflows, and that already heralds higher consumer prices even if the war were to end today. European refineries are fed not only by substantial seaborne shipments of Russian crude, but also directly via a network of large pipelines that run through Ukraine and Belarus to Germany and Central and Eastern Europe. T
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
