EU Energy Ministers Reach Consensus to Halt Russian Gas Imports by 2027 | World | london-news-net.preview-domain.com

EU Energy Ministers Reach Consensus to Halt Russian Gas Imports by 2027

EU Energy Ministers Reach Consensus to Halt Russian Gas Imports by 2027

On Monday, European Union energy ministers reached a consensus to eliminate the last of their gas imports from Russia by the conclusion of 2027, marking a significant step in breaking the bloc’s reliance on Russian energy that has persisted since the full-scale invasion of Ukraine.

The proposed measure, likely to gain the backing of the European Parliament, stipulates a ban on new contracts for Russian gas imports starting January 1, 2026.

Current agreements will undergo a transition period, with short-term contract imports permitted until June 17 of the following year, while long-term contracts will be allowed to continue until January 1, 2028.

As per Brussels, imports of Russian gas are projected to represent around 13% of the EU’s total gas imports in 2025, amounting to over 15 billion euros (approximately $15.15 billion) per year.

Hungary and Slovakia stand as the leading consumers of Russian pipeline gas and crude oil within the EU, while France, the Netherlands, and Belgium are the primary importers of Russian liquefied natural gas (LNG).

The approved EU Council proposal accounts for “specific flexibilities for landlocked member states” like Hungary and Slovakia, which did not favor the gas import ban.

During their meeting in Luxembourg, the ministers endorsed the European Commission’s initiative to phase out both pipeline gas and LNG imports from Russia, pending ratification by the parliament.

To ensure the proposal’s passage without unanimous consent, the Commission has made exceptions for Hungary and Slovakia, which maintain closer diplomatic ties to Russia.

Trade measures, such as those validated on Monday, need only a weighted majority of 15 countries to move forward.

“The Council presidency [held by Denmark] will initiate discussions with the European Parliament to finalize the regulatory text once the Parliament has established its position,” the EU Council stated in an official announcement.

The EU Council and the European Parliament plan to finalize an agreement by the end of 2025, as reported by Bloomberg.

This initiative is part of a broader EU strategy aimed at reducing the bloc’s dependency on Russian energy sources.

Simultaneously, the European Commission is advocating for an expedited halt to LNG imports by January 2027, as part of a new sanctions package intended to diminish Russia’s war financing capabilities.

Unlike the proposed trade measures, sanctions require unanimous agreement among the EU’s 27 member nations, which can sometimes be challenging to achieve.

EU foreign policy chief Kaja Kallas mentioned that the bloc’s 19th sanctions package, which includes a ban on Russian LNG imports starting January 1, 2027, might receive approval as soon as this week.

Reporting by AFP contributed to this information.

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