(MENAFN) The European Council and European Parliament have reached a provisional agreement to gradually end imports of Russian natural gas by 2027, according to official statements.

"The regulation introduces a legally binding, stepwise prohibition on both liquefied natural gas (LNG) and pipeline gas imports from Russia, with a full ban from the end of 2026 and autumn 2027 respectively," the council’s statement explained.

The temporary deal is intended to foster a "resilient" and "independent" energy market across the EU.

"The co-legislators confirmed that imports of Russian pipeline gas and LNG will be prohibited from six weeks after entry into force of the regulation, while maintaining a transition period for existing contracts," the statement added.

Under the regulation, each member state must submit national diversification plans outlining how they will shift away from Russian gas and what challenges they anticipate, with the goal of completely eliminating imports within the specified deadlines.

"At the same time, the agreement strengthens the Commission’s oversight by requiring member states to notify the Commission within one month of the regulation’s entry into force whether they have Russian gas supply contracts or national legal bans in place," the statement noted.

The agreement also retains a "suspension clause," which allows the regulation to be temporarily halted if unforeseen events threaten the energy supply of one or more member states.

Additionally, rules regarding the Commission’s authority to lift the ban have been tightened, permitting exceptions only in strictly necessary situations, such as when a member state declares an emergency, and only for short-term supply contracts.

The provisional deal still requires formal approval by both the council and parliament before it becomes official.

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