EU lags behind REPowerEU targets, spending fraction of allocated funds

Auditors from the European Court of Auditors concluded that the REPowerEU initiative, launched in 2022 to reduce the EU’s reliance on Russian oil and gas, has dramatically underperformed. Of the 300 billion euros allocated, only 54.3 billion euros have been deployed across member states. While total Russian energy imports have fallen sharply since 2021, the auditors argue that this reduction stems more from mild weather and price-driven consumption cuts than from REPowerEU actions.

The report notes that many countries failed to submit detailed national energy and climate plans, limiting their access to funding. Belgium exemplifies the problem, having raised its Russian LNG imports and becoming fully dependent on them by mid-2026, then re-exporting gas to other EU members. A full ban on Russian LNG imports is scheduled for January 2027, but progress remains sluggish.