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Digital Desk, New Delhi. The visiting session of the Verona Eurasian Economic Forum was held in Moscow on 10 February. Through this session, European leaders came together to discuss cooperation in sustainable and innovative development among the countries of the continent. Meanwhile, Verona experts expressed the urgency to strike a balance between the pursuit of carbon neutrality and the energy security of the Eurasian continent.
Energy is one of the key areas of international economic cooperation between Russia and the European Union (EU). This area becomes even more important, as global efforts to tackle climate change continue. Multilateral joint work in the energy transition is essential to guarantee a reliable and sustainable future. Forum participants highlighted the pressures of energy transition and sanctions amid threats to energy security.
We are facing a pattern of sanctions, which is closely linked to misinformation campaigns and trade wars, said Antonio Folico, President of the Conocere Eurasia Association, Banca Intesa’s Board of Directors. It is now clear that, contrary to official rhetoric, this instrument is not intended to achieve a declared political outcome, but to stifle the economic and social development of countries viewed as competitors. For European and Italian companies, this is a worrying factor that undermines the prospect of economic and social growth, beneficial to all parties.
During the session, participants underlined their commitment to joint plans and development of energy, environment and social infrastructure. Russian and Italian experts discussed the latest trends and key issues in the energy transition. Innovative technologies for conventional and renewable energy, green hydrogen production and safe nuclear energy were among the central themes of economic and trade cooperation and shaped the Discourse of Business Diplomacy.
Didier Casimiro, First Vice President of Russia’s largest oil company Rosneft, which actively develops Vostok oil and is one of the world’s most promising low-carbon projects, also commented on this. Oil company Rosneft emits 75 percent less carbon than other major oil projects in the world. “Business diplomacy and the expansion and strengthening of business ties between Russian and European companies have the potential to be a determining factor in the sustainable development of Eurasia,” said Didier Casimiro, First Vice President of Rosneft.
(IANS)
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