EU close to deal on complete ban of Russian gas – Bloomberg
Photo: Russian gas will be banned in the EU (Getty Images)
The EU is preparing an agreement for a full ban on Russian gas supplies. The new rules will take effect gradually, starting in 2025, according to Bloomberg.
New stage of energy independence
EU energy ministers are expected to agree on a joint position on a new law at a meeting in Luxembourg that would end Europe’s dependence on Russian fuel by the end of 2027.
According to the draft, supplies of Russian gas under short-term contracts are to be stopped by mid-June next year, and long-term contracts will end within 18 months after that.
For some landlocked countries, such as Hungary and Slovakia, a temporary exemption is foreseen.
However, the initiative requires only a qualified majority of votes, meaning it could be approved even if some members object.
US pressure and energy partnership
The United States is urging Europe to speed up the break with Moscow's energy sector and to increase imports of American liquefied natural gas.
In a joint EU-US statement, the sides announced plans to conclude energy deals worth $750 billion over the next three years.
"We are working closely together with the American administration in the field of energy," EU Energy Commissioner Dan Jorgensen said last week. "We are in the process of diversifying our gas imports," he added.
Negotiations and the RepowerEU plan
Once EU member states agree on a common stance, talks will begin with the European Parliament, which is pushing for a faster phase-out not only of gas but also of Russian oil — starting early next year.
The EU expects to reach a final agreement by the end of the year.
This move is part of the large-scale RepowerEU program aimed at achieving energy independence from Moscow following Vladimir Putin’s 2022 invasion of Ukraine.
In addition, the European Commission has proposed banning imports of Russian liquefied natural gas (LNG) by the end of this year.
Russia losing Europe's energy market
Currently, about 15% of Europe's LNG supplies come from Russia, making it the bloc's second-largest supplier after the United States.
EU countries spend between 500 and 700 million euros per month on Russian gas.
At the Luxembourg meeting, energy ministers will also discuss technical details of a pre-approval mechanism for imports and issues of energy support for Ukraine.
Special attention will be given to electrification plans and the development of renewable energy sources.
EU sanctions package
It should be recalled that Austria has agreed to support the adoption of the 19th package of European Union sanctions against Russia, removing a key obstacle to the vote this week.
The European Commission presented the 19th package of anti-Russian sanctions for discussion on September 19. These measures include a full ban on imports of Russian gas into EU countries by January 1, 2027.
