EU Aims to Untangle Energy Dependency with Russian Gas Ban Plans

The European Union plans to ban new Russian gas deals by 2025 and phase out existing contracts by 2027 in response to Moscow's 2022 invasion of Ukraine. The proposal requires approval from the European Parliament and EU member countries, with concerns on potential impacts on energy prices.

The European Union is preparing to unveil ambitious plans aimed at cutting its energy ties with Russia by introducing a ban on new Russian gas agreements as soon as next year. According to three EU officials, the blueprint suggests completely phasing out existing contracts by 2027.

The proposal, which will be made public on Tuesday, includes an immediate halt to new Russian gas import deals by the end of 2025, followed by a comprehensive legal strategy to ban existing Russian gas and liquid natural gas imports by 2027. These plans require a green light from the European Parliament and a majority of EU countries before coming into effect.

While sanctions have already been placed on Russian coal and oil imports, gas remains a contentious issue due to dependencies by countries like Slovakia and Hungary. Around 19% of Europe's gas currently originates from Russia, with alternative sources being sought. The EU is also keen on exploring increased LNG purchases from the United States as part of its broader strategy.