Tuesday, 02 January 2024 12:17 GMT

EU Approves Phased Ban On Russian Gas Imports By 2027


(MENAFN- UkrinForm) This was reported by the EU Council's press service, according to Ukrinform.

“Today, the 27 EU member states formally adopted the regulation on phasing out Russian imports of both pipeline gas and liquified natural gas (LNG) into the EU. The new rules also include measures on effective monitoring and diversification of energy supply,” the report states.

The regulation is a key step in implementing the REPowerEU goal of ending the EU's dependence on Russian energy sources.

“As of today, the EU energy market will be stronger, more resilient, and more diversified. We are breaking away from detrimental reliance on Russian gas and taking a major step, in a spirit of solidarity and cooperation, towards an autonomous Energy Union,” said Michael Damianos, Minister for Energy, Commerce and Industry of Cyprus.

According to the regulation, imports of Russian pipeline gas and LNG to the EU will be banned. The ban will take effect six weeks after the regulation enters into force. A transition period will be established for existing contracts. This phased approach will limit the impact on prices and markets.

A complete ban on LNG imports will take effect from the beginning of 2027, and on pipeline gas imports from the fall of 2027.

Before allowing gas imports into the European Union, the bloc's countries will check the country of origin of the gas. Violations of the rules are punishable by fines of up to €2.5 million for individuals and up to €40 million or 3.5% of a company's annual turnover for legal entities.

By March 1, 2026, member states must prepare national plans for diversifying gas supplies and report on existing contracts with Russia. In the event of a threat to energy security, the European Commission may temporarily suspend the ban for up to four weeks.

The decision will be published in the Official Journal of the European Union and will enter into force the day after its publication. The European Commission is also preparing separate legislation to phase out Russian oil imports by the end of 2027.

Read also: Municipal enterprises can obtain up to UAH 150M in preferential loans for energy efficiency – PM Svyrydenko

As reported by Ukrinform, in June 2025, the European Commission proposed a gradual phase-out of the remaining pipeline gas and LNG, with a complete ban planned for January 1, 2028.

Photo: AA, illustrative

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