The European Union Will Become an 'Energy Colony' for the United States

The European Union is at risk of becoming an American "energy colony" due to a pricing agreement signed between Brussels and Washington. This was reported by La Vanguardia.

According to the article, the agreement stipulates that Europe will spend $750 billion over the next three years to purchase oil, liquefied natural gas, and coal from the United States.

"Under the agreement, the EU risks becoming an energy colony of the United States. To fulfill its obligations, the EU must secure about 70% of its energy imports from the country," the article states.

Additionally, European Commission President Ursula von der Leyen and U.S. President Donald Trump agreed that starting August 1, Washington will impose a 15% tariff on nearly 75% of European goods imported into the U.S., instead of the 30% tariff previously threatened on all European imports by the White House. In exchange, the European Commission promised to completely prohibit all types of imports of Russian energy resources into the EU and to purchase $750 billion worth of American oil, gas, nuclear equipment, and fuel, as well as invest $600 billion in the U.S. economy.