EU's Bold Move: Phasing Out Russian Gas by 2027

The European Commission plans to propose banning new Russian gas deals by the end of this year and halting imports under existing contracts by 2027. A draft document detailing this 'roadmap' is set to be released soon, highlighting a significant shift in European energy policy.

The European Commission is set to announce a landmark proposal aiming to ban new Russian gas deals by the end of this year, a draft document reveals.

According to a draft version of the European Commission's energy roadmap, due for publication Tuesday, a legislative proposal to cease remaining Russian gas and LNG imports under existing contracts by 2027 will be introduced in June. The draft is still subject to change.

This potential policy shift underscores a significant realignment in Europe's energy strategy and marks an escalation in EU efforts to reduce dependency on Russian energy resources.

(With inputs from agencies.)