FT News Briefing

Why Europe can’t quit Russian energy

Aug 30, 2023

09:24

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The podcast discusses the EU's struggle with transitioning away from Russian fossil fuels, the increase in LNG imports, and China's investments in UK and US companies through a Goldman Sachs fund.

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Quick takeaways

The EU is heavily reliant on Russian liquefied natural gas (LNG) imports, indicating a challenge in transitioning towards alternative energy sources.

Goldman Sachs private equity fund's investments from China raise concerns about the influence and economic exposure of Chinese investors on Western companies.

Deep dives

EU struggles to cut reliance on Russian gas

The European Union is facing challenges in its goal to transition away from Russian fossil fuels as it is on track to import a record amount of liquefied natural gas (LNG) from Russia this year. Despite wanting to reduce its dependency on Russian gas, the EU has had difficulties in finding alternative energy sources. The increase in LNG imports indicates a continued reliance on Russia, which poses potential risks if Russia were to cut off supplies.

Introduction

2min

The Increase in LNG Imports and its Impact on Europe's Energy Situation

2min

Europe's Reliance on Russian Energy and Cryptocurrency Victory

4min

Chinese investors using funds to gain economic exposure to Western companies

2min

The EU is set to import record volumes of liquefied natural gas from Russia this year, asset management firm Grayscale won a US court ruling to launch an exchange traded fund tracking bitcoin, and Goldman Sachs has used a fund set up with Chinese state money to buy a series of US and UK companies.

Mentioned in this podcast:

EU imports record volumes of liquefied natural gas from Russia

Grayscale scores major court win against SEC on bitcoin ETF

Goldman Sachs bought UK and US companies using Chinese state funds

Job market slowdown fuels bets Fed will hold fire on rates this year

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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