Kamenický at Ecofin: EU negotiations with the USA must not go against the interests of member countries

Brussels/Bratislava – Future negotiations between the European Commission (EC) and the new US government must not go against the interests of the member countries of the European Union (EU). This was stated on Tuesday in Brussels by the Slovak Minister of Finance, Ladislav Kamenický (Smer-SD), after meetings of the Eurozone and EU finance ministers, reports the TASR correspondent.

Kamenický confirmed that the ministers also discussed the arrival of the new American administration led by Donald Trump during the two-day talks.

“I talked about the need to monitor individual steps. There are certain changes in pre-election rhetoric, but it is clear that much will be said about the purchase of LNG from the United States and possible tariffs that the US might introduce. The European Commission and individual member states will have to respond somehow. The United States is one of the EU’s largest trading partners, and therefore it is important to be able to set mutual relations,” he noted.

Kamenický mainly warned colleagues in Brussels to prevent the Union from becoming dependent once again. He recalled the situation when the EU imported 40% of its gas from Russia before the war in Ukraine and now some member states, which previously bought over 50% of their gas from Russia, import around 90% of liquefied gas from America.

“Europe, as well as Slovakia, which is a leader in the automotive industry, need cheap energy. To achieve this, we cannot be dependent on either Russia or the USA, the ideal state is when we have the possibility to diversify, which is also not easy,” he explained. He clarified that suppliers like Algeria or Norway have pre-contracted gas supplies, which for Germany means increased imports of American LNG.

Kamenický also spoke about the necessity for not only industry but also households and citizens to have cheap energy. He added that the Slovak government will continue to strive to maintain stable energy prices for the people.

The EC, along with Slovak European Commissioner Maroš Šefčovič, responsible for trade and economic security, will be the one negotiating with the American side and dealing with potential trade disputes. However, to be successful, it needs to have the certainty of unity among the EU member countries. Kamenický pointed out that it will be important that the Commission’s negotiations align with the interests of the member countries.

“If this is the case, unity will be achieved. However, I have concerns because we hear that the United States may condition the non-introduction of tariffs on a clear purchase of LNG by Europeans,” he said.

He emphasized that in such a case, he is interested in what the gas price will be. He also talked about the fact that the Union cannot be competitive if the United States pays 10 dollars per megawatt-hour for gas on the domestic market and Europe buys it for 50 dollars. “I mentioned that energy directly enters the cost of products and services, and if we produce our products in this way, they will be uncompetitive,” he added. (January 21)

“Europe, as well as Slovakia, which is a leader in the automotive industry, need cheap energy. To achieve this, we cannot be dependent on either Russia or the USA, the ideal state is when we have the possibility to diversify, which is also not easy.” Ladislav Kamenický