EU Unveils Comprehensive Strategy to Halt Russian Gas Imports

The European Commission plans to propose a ban on new Russian gas agreements by the end of 2023, and halt imports under existing contracts by 2027. This initiative follows the EU's pledge to sever energy ties with Russia after its 2022 invasion of Ukraine. Approval from EU member states is required.

In a significant move to alter its longstanding energy relationship with Russia, the European Commission is set to propose next month a ban on new Russian gas deals by the end of this year. This comes after the EU vowed to terminate its energy dependence on Moscow in response to its 2022 military actions in Ukraine. The comprehensive plan includes halting imports under existing contracts with Russia by the end of 2027.

A draft roadmap, which Reuters has seen, indicates that the Commission will present the legal framework in June to phase out Russian gas and LNG by the proposed deadlines. The plan also requires EU countries to draft national strategies to minimize Russian gas usage, with Slovakia and Hungary to also focus on reducing oil imports, which remain over 80% dependent on Russia.

While the EU has successfully sanctioned Russian coal and most oil imports, opposition from Slovakia and Hungary has so far prevented similar measures on gas. Any new sanctions require unanimous approval from all 27 EU member nations. The draft suggests strategic cooperation with reliable global suppliers to buffer against potential market disruptions.

(With inputs from agencies.)