From Yahoo Finance.: 2025-06-18 10:14:00

The European Commission proposes to phase out Russian gas and oil imports by the end of 2027, aiming for full energy independence. This move is part of the EU’s strategy to enhance competitiveness and reduce vulnerability to Russian fossil fuels.

The decision follows the REPowerEU road map and aims to eliminate Russia’s leverage through energy supplies. President Ursulavon der Leyen emphasizes the need to end the era of Russian fossil fuels in Europe for good, citing past attempts to blackmail.

The proposal assures that the phase-out won’t harm the economy or energy security due to alternative suppliers and robust infrastructure. It aligns with the Competitiveness Compass, Clean Industrial Deal, and Affordable Energy Action Plan to promote cleaner and independent energy systems.

The regulation outlines a gradual discontinuation of Russian gas and oil imports, with a ban on new gas contracts effective from 2026. Short-term contracts must end by mid-2026, while long-term contracts are allowed until 2027 for certain countries.

The ban also includes restrictions on LNG terminal services involving Russian entities, aiming to enhance market resilience. The move is part of the EU’s push towards energy independence, decarbonization, and economic benefits of a cleaner energy system.

Source: Offshore Technology.

Read more: EU plans to stop Russian gas and oil imports by 2027