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FX.co ★ US and UK agree on energy partnership

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Forex-Humor:::2022-12-20T09:44:00

US and UK agree on energy partnership

Amid a raging energy crisis and narrow supply of fuel, UK PM Rishi Sunak and US President Joe Biden have agreed upon a “UK-US Energy Security and Affordability Partnership” to weather the crisis. According to a joint statement by two leaders, published on the website of the British government, the countries forged a new partnership aimed at cutting international dependence on Russian energy exports. However, in their effort to scale down Russian gas and oil supplies, the US and the UK are unlikely to become fully independent without international energy imports. The published document reads that both parties aim to stabilize energy markets around the world, reduce demand for energy, and ensure supplies in the short term. In the long run, the countries agreed on accelerating the clean energy transition and becoming carbon neutral by 2050. Earlier, Biden stressed that the US would continue to collaborate with Europe to diversify its energy sources and boost the transition to renewable energy in the long term.

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