Just two of the top 10 oil suppliers to the EU are European, and most of imported oil is supplied from unstable countries.
Transport is a critical sector when talking about energy security in the EU. 94% of transport relies on oil products, which makes it the biggest oil consumer in Europe.
90% of this oil is imported and comes more and more from countries with a high risk of geopolitical instability, such as Russia, worsening Europe’s energy insecurity.
In 2014, 29% of all imported crude oil came from Russia and, related import costs summed up to €78 billion. All oil imports add up to an annual cost of €271 billion. In 2012, 76% of energy content of all petroleum products were used by the transport sector. That adds up to a cost of €564 million every day worth of imports for the transport sector only.
Closing the gap and stricter standards on road vehicles would considerably improve the EU’s energy independence and security.