The European Commission has approved a legislative initiative that outlines a phased withdrawal from the import of gas and oil from the Russian Federation by the end of 2027. The aim of this decision is to strengthen the energy independence of the European Union and enhance its competitiveness in the global market.
This is reported by Finway
Key Provisions of the New Regulation
According to the adopted regulation, EU member states are required to gradually reduce the volumes of pipeline gas and liquefied natural gas (LNG) purchases from Russia, as well as completely abandon the import of Russian oil by the specified deadline. Each EU state must develop its own energy supply diversification plan with clearly defined steps and implementation timelines.
Starting from January 1, 2026, a ban on entering into new contracts for the import of gas from Russia will be implemented. Short-term agreements must be concluded by June 17, 2026. At the same time, for EU countries that are landlocked and dependent on pipeline gas, an exception will apply: long-term contracts may remain valid until the end of 2027. Additionally, long-term agreements for the use of LNG terminals for Russian clients will also be prohibited, which will facilitate a more active transition to alternative energy suppliers.
Monitoring and Transparency in the Energy Market
The European Commission will monitor compliance with the regulation and, in the event of a threat to energy supply security, is prepared to implement emergency measures. The new rules also enhance market transparency by requiring energy companies to provide detailed information about all contracts and sources of gas origin.
“EU states must develop diversification plans with clear measures and timelines.”
The next step will be the consideration and approval of the corresponding regulation by the European Parliament and the Council of the EU through a qualified majority procedure.