A decision to halt EU oil imports from Iran, taken Monday by a meeting of the EU’s foreign ministers, marks the strongest step taken so far by Europe to counter Iran’s suspected nuclear ambitions.
It coincided with an expansion of U.S. sanctions (which have long barred Iranian oil) to include Iran’s third-largest bank. A steeper financial escalation is under active consideration by the Obama administration in the form of action to cut U.S. dealings with Iran’s central bank and press allied capitals to join in isolating Iran financially. Such a move would make it harder for Tehran to use oil revenues for international purchases aimed at strengthening the country’s nuclear program.
On May 13, 2011, The Honorable Arvydas Sekmokas, Minister of Energy of the Republic of Lithuania, assessed his nation’s ambitious efforts to develop a diversified and sustainable energy base and wean itself from total dependence on imported natural gas and electricity. François Rivasseau, Deputy Head of the Delegation of the European Union to the United States and Andrea Waldman Lockwood, U.S. Deputy Assistant Secretary of Energy for Eurasia, Africa and the Middle East, added their perspectives on the Baltic Region’s energy security challenges and the role that both EU and US policies can play in successfully meeting them.
The zeal for ever-tougher controls on carbon emissions seems to be seeping away in Europe, too – a trend measuring a dramatic U.S. shift away from cap-and-trade and carbon ceilings under the Obama administration.
Chilling Effect on Outlook for EU Energy Security in Caspian
The violent struggle for power in Kyrgyzstan is a reminder of Moscow’s self-avowed determination to use every means in its power to bring back its old satellites into the orbit of the new Russia. As yet, there is no evidence of Russian participation in what seems to have been a well-organized coup. But even the upheaval and apparent sudden regime change there will alarm several groups with key interests in the U.S. and Europe.
On April 1, 2010, The European Institute, in cooperation with the Embassy of the Russian Federation, held a special meeting of its Roundtable on EU-U.S.-Russia Triangular Relations to discuss the prospects and challenges of deepening economic and trade relations with Russia. The Honorable Andrey Denisov, First Deputy Foreign Minister of the Russian Federation, addressed the need for greater triangular cooperation on a variety of fronts, including energy, technology and innovation, and stressed the importance of the Russian Federation’s accession to the WTO. The Honorable Robert Hormats, Under Secretary for Economic, Energy, and Agricultural Affairs at the U.S. Department of State asserted American interest in developing stronger trade and investment relationships with Russia and the importance of seizing opportunities for greater technological cooperation. Ambassador Richard Morningstar, the U.S. Secretary of State’s Special Envoy for Eurasian Energy viewed triangular coordination as particularly important in seeking to diversify energy sources and supply on both sides of the Atlantic, and urged continued discussions on diversification, innovation and investment. Angelos Pangratis, Chargé d’Affaires of the Delegation of the European Union to the United States encouraged a comprehensive approach, anchored to WTO accession, and cited the EU’s continuing efforts to negotiate a successor to the current Partnership and Cooperation Agreement, establish a partnership for modernization and stabilize energy relations through a clear legal framework.
© COPYRIGHT THE EUROPEAN INSTITUTE 2009
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