EU to Consider Massive Joint Bond Sales to Fund Energy, Defense
The invasion has forced the bloc to rethink its most basic energy needs, as more than 40% of EU gas imports and one quarter of its oil come from Russia.
The proposal may be presented after the EU’s leaders hold an informal summit in Versailles, France, that starts Thursday, according to officials familiar with the preparations. Officials are still working out the details on how the debt sales would work and how much money they intend to raise, depending on the guidance they receive from leaders in this week’s meeting.
“The impact on energy prices from recent events and the importance of energy considerations in sanctions discussions could motivate lawmakers on both sides of the Atlantic to accelerate the shift to renewable energy,” Goldman Sachs Group Inc. economist Alec Phillips wrote in a note to clients on Monday. “EU leaders are expected to release a proposal in coming days in this area.”