EU's Bold Move: Ending Russian Gas Imports by 2027

The European Commission plans to propose legal measures to phase out all EU imports of Russian gas and LNG by 2027. This move comes in response to the Ukraine invasion, with a gradual ban on new and existing contracts. The proposals aim to reduce reliance on Russian energy significantly.

The European Commission is set to introduce legal measures next month to phase out the European Union's dependency on Russian gas and liquefied natural gas (LNG) by the end of 2027. The move marks a significant response to Russia's 2022 invasion of Ukraine, which prompted a drastic reevaluation of Europe's energy supply strategies.

Previously, Russia accounted for a substantial 45% of the EU's gas supplies, a figure that tumbled to 19% last year. The new measures to be proposed in June will target a comprehensive phase-out, including a ban on new Russian gas and LNG deals and the cessation of imports under existing contracts by 2025. The initiative will also enforce restrictions on long-term contracts by 2027, impacting several EU countries still reliant on Russian gas.

In related measures, the European Commission intends to scrutinize nuclear fuel imports, contemplating trade measures on Russian enriched uranium. Challenges lie ahead, with the European Commission needing the approval of the European Parliament and member states for these bold regulatory changes. As negotiations proceed, the emphasis remains on swiftly enacting policies to meet the end-of-year deadline for ceasing new Russian gas agreements.

(With inputs from agencies.)