The European Union has agreed in principle to purchase about $750 billion of U.S. oil, natural gas and coal under a trade framework unveiled by President Donald Trump and European Commission President Ursula von der Leyen. The accord, announced after talks in Scotland, also sets a 15% baseline tariff on most EU exports to the United States while leaving existing duties on steel and aluminum intact. Brussels pledged to raise annual energy imports from roughly $75 billion in 2024 to $250 billion for each of the next three years, making the United States an even larger supplier of liquefied natural gas, crude and coal. The U.S. already provided 50% of the bloc’s LNG, 17% of its oil and 35% of its coal last year, according to Eurostat. Energy analysts question whether the volume is achievable. The United States is a net exporter of only about one million barrels of oil a day—worth about $27 billion annually at current prices—and shipped 130 billion cubic meters of LNG in 2024, valued near $39 billion. Even redirecting all excess U.S. supply to Europe would generate roughly $66 billion in sales, far below the $250 billion annual target. Critics have branded the pledge “absurd” and “unworkable” given production limits, infrastructure bottlenecks and market-based buying in Europe. The deal also collides with the EU’s Corporate Sustainability Due Diligence Directive, which imposes stringent climate and human-rights standards on suppliers. U.S. exporters worry the rules could restrict future cargoes, while Qatar has threatened to curb LNG deliveries in response to the same requirements. Analysts say the arrangement risks deepening Europe’s dependence on U.S. fossil fuels even as the bloc seeks to diversify energy sources and accelerate its transition to renewables.
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