The European Union is intensifying measures to reduce dependence on Russian energy sources and intends to completely cease gas imports from the Russian Federation by the end of 2027. This initiative is being discussed at the level of energy ministers from EU member states, who will gather for a meeting in Luxembourg on October 20.
This is reported by Finway
Phased Plan to Abandon Russian Gas
According to the new proposal, a ban on short-term contracts for the supply of Russian gas is planned to be implemented by mid-June. At the same time, exceptions will be made for certain landlocked countries, particularly Hungary and Slovakia. For long-term agreements, a complete ban will come into effect after 18 months.
“The EU ban requires only a qualified majority of votes, so it can be adopted even in the face of objections from individual participants.”
Additional Restrictions and Negotiations with the European Parliament
Negotiations are also ongoing with the European Parliament, which advocates for stricter and faster measures, including the cessation of gas purchases from the Russian Federation and a complete halt to oil imports starting next year. The main goal is to reach a final agreement by the end of the current year.
The European Commission is also proposing to introduce an embargo on the import of Russian liquefied natural gas (LNG) by the end of 2025. This issue is planned to be brought up for discussion among EU leaders during the summit in Brussels at the end of October.
Currently, the European Union receives about 15% of its LNG imports from Russia, making the Russian Federation the second-largest supplier after the United States. The monthly expenditure on importing this fuel ranges from 500 to 700 million euros.