The US funds $1 billion in energy projects in Eastern Europe

The US funds $1 billion in energy projects in Eastern Europe

US Secretary of State Mike Pompeo has announced that his country will finance energy projects in eastern and central Europe worth $1 billion US; to boost their energy independence against Russia.

Pompeo said at the Security Conference in Munich: “In order to support the sovereignty, prosperity and independence of our European friends in the energy field, the United States intends to grant up to one billion dollars in funds to the Central and Eastern European countries that are members of the Three Seas Initiative.”

“We want to stimulate private sector investment in energy sectors (in these countries) in order to protect freedom and democracy in the world,” he added.

The Three Seas initiative brings together 12 European Union member countries bordering the Baltic Sea, Adriatic Sea and Black Sea. It extends from Estonia and Poland in the north to Croatia in the south, Romania and Bulgaria in the east.

This initiative aims to enhance cooperation among its members in the fields of energy, infrastructure and security, especially in the face of Russia, which is considered by some of them to be a direct threat.

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Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.