EU Nears Deal to Phase Out Russian Gas by 2027 – Bloomberg
The European Union is close to finalizing a landmark agreement that would end the bloc’s reliance on Russian gas within the next two years.
The Gaze reports this, referring to Bloomberg.
EU energy ministers meeting in Luxembourg are expected to endorse a joint position on a new regulation that would impose a full ban on Russian gas imports by the end of 2027.
Under the proposal, short-term contracts for Russian gas supplies would be terminated by mid-2026, while long-term contracts would be phased out within the following 18 months.
Landlocked nations such as Hungary and Slovakia may receive temporary exemptions, but the legislation only requires a qualified majority vote, allowing the package to pass even if several members oppose it.
Washington has been urging European capitals to cut energy ties with Moscow faster and expand purchases of U.S. liquefied natural gas (LNG).
In a joint EU-U.S. statement, the partners announced plans to sign energy cooperation agreements worth $750 billion over the next three years.
“This is not just for the present conflict. It’s for the future. Never again should we make this mistake,” said EU Energy Commissioner Dan Jørgensen.
Once the member states reach consensus, negotiations will begin with the European Parliament, which is pressing for an even faster withdrawal, including a total ban on Russian oil imports starting early next year.
Officials aim to finalize the legislation by year-end, integrating it into the broader RepowerEU strategy designed to secure energy independence after 2022.
The European Commission has also proposed banning Russian LNG imports by the end of 2025 as part of the same package.
At present, Russia still accounts for roughly 15% of Europe’s LNG imports, making it the second-largest supplier after the United States.
EU states continue to spend an estimated €500–700 million per month on Russian gas, though that figure has fallen sharply since 2022.
The Luxembourg meeting will also address the mechanism for pre-approval of gas imports and potential energy support for Ukraine, alongside efforts to accelerate electrification and expand renewable energy capacity.
The gas embargo forms a central element of the 19th EU sanctions package against Russia. After weeks of debate, Austria dropped its objections, clearing the way for a vote later this week.
As The Gaze reported earlier, the European Union is preparing to adopt its 19th package of sanctions against Russia later this week, with final approval expected during the European Council summit on Thursday, October 23.