Khaberni - Both the United States and Qatar have warned the European Union that its legislation regarding corporate sustainability could pose a direct threat to energy security on the European continent.
The warning came in a joint letter sent by US Energy Secretary Chris Wright and Qatari State Minister of Energy Saad bin Sherida Al-Kaabi to the leadership of the European Union, as revealed by the "Financial Times".
The letter described the European Union's directives on due diligence in corporate sustainability as representing an "existential threat" to the growth of the European economy, its competitiveness, and resilience, noting that these rules could significantly damage the exports of liquefied natural gas from the two countries — an energy source that has become vital to the European Union in recent years.
The ministers emphasized that the proposed European legislation not only undermines the efforts of the United States and Qatar and their companies to maintain and significantly increase reliable supplies of liquefied natural gas to Europe in the future.
The letter also warned that these directives not only threaten energy security, but could also jeopardize trade and investment relationships between the European Union and its international partners. It highlighted that the implementation of such rules could threaten current and future investments, negatively affect the labor market, and weaken the commitment to modern trade agreements.
