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EU leaders agree to reduce dependency on chips, food and raw materials

According to the statement released at the end of the EU Leaders’ Summit held at the Palace of Versailles in Paris, the EU pledged to reduce its dependence on global suppliers of food, microprocessors, pharmaceuticals, raw materials and digital technology.

The Covid-19 outbreak and Russia’s invasion of Ukraine once again brought the EU’s dependence on medicine, food, chips, as well as wheat, oil and natural gas.

EU Commission to prepare plan to reduce dependence on Russian gas.!

Ursula von der Leyen, President of the European Union (EU) Commission, stated that they will make large investments in renewable resources in the medium term, and that they want to get rid of dependency on Russian gas by diversifying the supply.

Von der Leyen reminded that renewable energy provides employment in Europe and said that this is a “strategic investment” in energy supply security and independence.

Recalling that the EU announced its energy plan this week, von der Leyen said, “We will present our proposal by mid-May to end the dependence on Russian gas, oil and coal by 2027.” he said.

EU countries meet a significant part of their chip needs from the USA and Taiwan.

Von der Leyen stated that the EU took action quickly on the sanctions decisions against Russia, which attacked Ukraine, and that the ruble lost more than 50 percent of its value in a short time, interest rates in Russia rose rapidly, inflation increased, the credit rating of Russian treasury bills was rubbish. He explained that the country has fallen to the level of recession.

Recalling that they have implemented 3 strong sanctions packages against Russia so far, Von der Leyen said, “We will bring the fourth package of sanctions. These sanctions will further isolate Russia from the global economic system. The cost of Russian President Vladimir Putin’s invasion of Ukraine will further increase. will increase.” he said.

Macron said that Europe should become more sovereign and independent, and that its defense strategy will be determined by May.

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