The European Union is planning out a set of emergency measures to mitigate the impact of a potential Russian gas cutoff, Bloomberg reported on Wednesday. Among the measures being considered are stockpiling, directing supply to key industries, and placing restrictions on public use.
The steps are laid out in a draft document seen by Bloomberg, which calls for “early joint action at EU level” to address the bloc’s fears that Russia may abruptly cut off the gas supply to the continent.
“Acting now could reduce the impact of a sudden supply disruption by one third,” the European Commission stated in the document, which Bloomberg noted is still subject to change before it is adopted as policy next week.
According to the document, gas flows from Russia are now less than 30% of the 2016-2021 average. Should Russia pull the plug, the EU would like to have gas reserves at 80% in order to “reduce the impact of a sudden supply disruption by a third.”