Since Russia's military abilities are not able to threaten the Western world for a long time now, the "Energy Blackmail" has been a key card in play. However this might end soon as well, as the leaders of the G7 agreed upon a plan to help Europe become energy independent, or at least a lot more stable.

For starters the G7 members will work to complement the efforts of the European Commission to develop energy emergency plans for winter 2014-2015 at a regional level, just in case Putin decides to cut off gas for Ukraine, and so for Europe as a whole.

In the long term, the G7 together with EU, want to extend the pipeline system from West to East and also increase imports from North Africa. In addition, the government in Tokyo announced last month that Japan is set to restart its nuclear power plants, so energy imports will drop dramatically. This will also bring the gas prices down around the globe.

It might not be too long until Russia will beg Europe to buy its gas.

What is your opinion? What is the best way to tackle the energy issue?

Can Europe become energy independent in the next 5-10 years?