The European Union is serious: according to insiders, the state community wants to prohibit new gas contracts with Russia towards the end of the year and end existing contracts towards the end of 2027.
Despite the brutal attack war against Ukraine, about 19 percent of gas requirements in the EU are still covered by gas from Russia. Deliveries come via the Turkstream pipeline or as a liquid gas (LNG) by ship to the EU. The EU has formulated the goal of terminating fuel supplies from Russia by 2027. However, this is not binding.
By the end of 2027, a legislative proposal for the prohibition of Russian gas and liquid gas import must now be submitted as part of existing contracts. The plans can change before the publication.
The corresponding contracts of the EU committee must be published on Tuesday, three of them insured people who are familiar with the plans. The timetable will contain the obligation to propose a ban on new Russian gas import transactions in June by the end of 2025.
Peace Contract can display the Energie Export
These EU projects take place against the background of the efforts of the United States to insist on a peace treaty with Ukraine. If there is such a deal, this can open the gates for the export of Russian energy.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
