EU investment in energy needs to be increased - Rinkevics

RIGA - The European Union (EU) needs to increase its investments for its energy needs, according to Latvian Foreign Minister Edgars Rinkevics (New Unity).

The Ministry of Foreign Affairs informed LETA that on Monday the Minister attended a meeting of the EU General Affairs Council in Brussels, during which a discussion took place on the preparations for the extraordinary European Council meeting for May 30-31 this year. The issues to be addressed by the European Council will be the situation in Ukraine, energy and EU security and defense policy.

At the meeting, the Foreign Minister spoke about the EU's energy policy. The Minister drew attention to the need to agree on all the elements that will allow the EU to further diversify its energy supply routes and ensure energy supplies at affordable prices. Renewable energy sources and energy efficiency remain a cornerstone of the EU's efforts to reduce energy dependency.

The Minister also emphasized the need to adopt the sixth round of sanctions against Russia as soon as possible, which should include an embargo on Russian oil. According to him, the discussion on the next round of sanctions against Russia and Belarus should also begin, as Russia's war in Ukraine continues.

Rinkevics emphasized that the EU's energy independence and renewable energy processes must also be further facilitated, while finding solutions to reduce energy prices.