The European Union’s energy ministers have agreed to ban Russian gas imports by January 1, 2028, in response to Moscow’s “weaponization” of gas supplies, despite the EU still being a major importer of Russian LNG. The bill, which has exceptions, will initially target existing contracts and is set to be approved by the European Parliament. Hungary and Slovakia opposed the bill, citing difficulties in securing alternative gas sources due to their landlocked status. The new regulation includes additional scrutiny for Russian gas, transition plans, and prior authorization regimes to ensure compliance.
Read More
The European Commission has proposed a complete phase-out of Russian fossil fuel imports by 2028, citing Russia’s weaponization of energy supplies against the EU. This ban, encompassing gas and oil, will remain in effect regardless of the situation in Ukraine, with existing contracts to be terminated by 2026 or 2028. While facing opposition from Hungary, Slovakia, and Austria, the plan is expected to become EU law. The proposal aims to reduce reliance on Russian energy, currently at 13% for gas imports in 2025, while addressing concerns about circumventing the ban through re-flagging of imports.
Read More
The European Commission has unveiled a comprehensive plan to eliminate all Russian energy imports by 2027, ending a decades-long energy dependence that has fueled the Kremlin’s war machine. This phased approach will ban new Russian gas contracts, terminate spot market purchases by 2025, and halt all remaining gas imports by 2027, encompassing oil and nuclear fuel. National governments will submit individual phase-out plans by the year’s end, facilitated by force majeure clauses allowing early contract termination. The plan aims to balance energy security with the potential for price shocks and resistance from some member states.
Read More
John Q. Hosedrinker