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M.Pompeo pledges $1 billion for EU energy projects to reduce Russia reliance

M.Pompeo pledges $1 billion for EU energy projects to reduce Russia reliance

Washington, February 18 - Neftegaz.RU. U.S. Secretary of State Mike Pompeo said on February 15 at the Munich Security Conference that Washington pledged "up to $1 billion" to boost energy projects in eastern Europe as part of efforts to reduce reliance on Russian natural gas.

"The United States – through our International Development Finance Corporation, and with the support of the U.S. Congress – intends to provide up to $1 billion in financing to the Central and Eastern European countries of the Three Seas Initiative," Pompeo said. "Our aim is to galvanize private sector investment in their energy sectors."

The U.S. has long worried that Europe is getting too much of its energy from Russia, which makes the continent economically dependent upon Moscow. In a bid to hamstring the process, Washington has sought to use sanctions to prevent completion of the Nord Stream 2 project, which would bring gas from Russia to Germany.

During a visit to Belarus on February 1, Pompeo said that American producers were ready to provide Belarus with oil at 100% competitive prices. “The U.S. wants to help Belarus create its sovereign state and our energy producers are ready to cover 100% of your oil needs at competitive prices. We are the largest energy producer in the world, and all you need to do is tell us and address us,” he said after talks with the Belarusian President A.Lukashenko.