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EU unveils plans for historic single energy market

Decision timely as Russia threatens to cut gas deliveries to Ukraine, putting onward supply to Europe at risk

Brussels

THE EU unveiled plans on Wednesday for a continent-wide single energy market to reduce its uneasy reliance on Russian supplies and cut a massive annual import bill of some 400 billion euros (S$612 billion).

The proposals by the European Commission, the executive body of the 28-nation bloc, are timely as Russia once again threatens to cut gas deliveries to Ukraine, putting onward supply to Europe at risk.

"Today, we launch the most ambitious European energy project since the Coal and Steel Community,"...

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