European Union leaders have officially endorsed a landmark policy to eliminate all Russian gas imports by December 31, 2027. This decision, reached after extensive negotiations, is part of a broader strategy to enhance the bloc’s energy security and reduce its dependence on Russian energy.
Currently, Russian gas constitutes 13% of the EU’s total gas imports, with annual value exceeding 15 billion euros. The agreement aims to accelerate the transition to alternative energy sources, including liquefied natural gas (LNG) imports from other countries and increased use of renewable energy.
The decision comes amid ongoing geopolitical tensions and the need to reduce vulnerabilities in the energy supply chain. The EU has been working to diversify its energy sources, with plans to increase imports from Azerbaijan, the United States, and North Africa. This phaseout is expected to have significant economic implications for both the EU and Russia, as it will affect energy markets and global trade dynamics.