By Silvia Marchetti
ROME (MaceNews) – Italian Prime Minister Mario Draghi’s upcoming trip to the US will seek to bolster the anti-Russia transatlantic energy strategy as Italy takes on a leadership role in Europe in moving toward “gradual” independence from Russian oil and gas, said ruling coalition sources.
On May 10 Draghi will meet with President Joe Biden in Washington, D.C., to discuss NATO cooperation particularly on energy issues and new sanctions against Moscow, on which there are slightly different views between Europe and the US.
“The issue is whether, and how, to end reliance on Russian gas, and while Biden has shown support for a boycott, a part of his administration is worried about the impact this would have on global energy prices. Similarly, there are gaps between European Union members on whether to ban energy imports from Russia, or at least place a cap on gas prices. It is paramount to find a common ground at NATO level for any action to be significant and detrimental to the Russian economy,” said a source.
Officials noted that Draghi was gathering support at EU level to cap prices EU members will pay for Russian gas, but Germany and Holland opposed a price cap. In a similar way, in recent days both US Energy Secretary Jennifer Granholm and US Treasury Secretary Janet Yellen warned that an EU ban on Russian energy imports would cause energy prices to spike, with an array of negative consequences for the West.
“A potential EU boycott will drain gas supply from the global energy market, which worries the US, but also Europe, which is way more dependent on Russian gas than the States to run its industries and businesses,” said a coalition source.
Russia still accounts for 27% of crude oil, 47% of coal and 41% consumed by the EU, while it accounted for just 5 percent of US total oil imports before the recent US ban, officials said.
“It’s clear that there’s a significant gap in Russian gas reliance between the US and the EU, and the US’s tiny share of imports from Russia has already been blocked. We need a coordinated response between the two sides of the Atlantic to jointly damage the Russian economy,” said a source.
Officials stressed the importance of Draghi’s US trip, the Italian premier being the first EU leader flying to the States to meet Biden following the Ukrainian crisis outbreak to discuss NATO issues, which “proves Italy’s key role as an indirect European ‘spokesperson,’” an official said.
With French President Emmanuel Macron just re-elected and forced to address rising social discontent, and German chancellor’s Olaf Scholz “understated” role, this leaves Italy with a lot of “maneuver space,” said another source, noting that Draghi had also discussed Ukraine recently with Canada Premier Justin Trudeau.
“It is likely that Draghi and Biden will discuss different anti-Russia energy sanctions options in order to pave way to a convergent NATO strategy: it could be that the US could agree on the EU idea of placing a cap on Russian gas, and fully support Europe’s ‘phase out’ Russian gas reliance roadmap,” an official said.
Under the EU proposal, the EU expects to cut Russian energy imports by two-thirds by the end of 2022 and end Russian energy imports by 2027. The US is currently supplying Europe with extra liquified gas and EU countries are striking new deals with other energy producing countries. Italy is launching energy partnerships with African nations as alternatives to Russian gas.
Transatlantic energy security will top the Biden-Draghi meeting, which will also focus on coordination on measures to support the Ukrainian population and to counter Russia’s aggression.
“The strength of the NATO bond will be reaffirmed. It is quite clear that even though parts of the US administration could be against measures that fully target Russian energy, the US remains the pivotal point of all transatlantic ties,” said a source.