Skip to content
Back to Guavy Wire
Commodities

EU's Dependence on Fossil Fuels Threatens Sovereignty and Security

Instruments
Natural Gas
Share

The European Union has made significant progress in reducing its dependence on Russian fossil fuels since the invasion of Ukraine, but it still relies heavily on imports from authoritarian regimes and an increasingly unfriendly US.

In 2022, Russia supplied over 40% of the EU's fossil gas, funding Vladimir Putin's regime and war efforts. However, thanks to a concerted effort to import gas from other countries, Russian imports fell to around 11% in 2024, with Norway accounting for about a third of the mix.

The EU remains the world's largest importer of liquid natural gas (LNG), relying on it heavily despite the risks. More than 30% of households still use gas for heating, and it is extensively used in industry and electricity generation.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc