Russian invasion’s impact on Greece

Russian invasion’s impact on Greece

Athens is still trying to make sense of the new political and economic landscape created by Russia’s invasion of Ukraine. One thing is clear, however: The government’s top priority is to absorb the spike in the cost of energy and its effect on inflation.

Throughout Europe, the need to lessen the continent’s dependence on imports of Russian natural gas is acknowledged. Kathimerini understands that Greece has approached Bulgaria for a bilateral deal that would allow Greece to import electricity produced at Bulgarian nuclear plants.

Bulgaria’s current nuclear capacity – Kozloduy reactors 5 and 6, which meet a third of its current energy needs and are by far its cheapest energy source – would allow it to start exporting electricity to Greece next year. In January 2021, Bulgaria decided to build another reactor, Kozloduy 7, which is expected to be ready by 2026 and could provide even more electricity. Romania also plans to build a nuclear reactor.

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