EU's Bold Step: Phasing Out Russian Gas
The European Union is preparing to unveil a roadmap to phase out Russian gas, with an aim to completely eliminate reliance on Moscow for fossil fuels by 2027. This includes potential legal avenues to break contracts, despite challenges, and exploring alternative energy sources like U.S. LNG.
The European Union is poised to disclose a strategic roadmap aimed at reducing its dependency on Russian gas imports. Scheduled for release on Tuesday, the plan outlines measures to phase out existing contracts with Moscow and prohibit new deals, a move aimed at severing decades-long energy ties.
The roadmap is part of the EU's broader commitment to end reliance on Russian fossil fuels by 2027, a goal it set following Russia's 2022 invasion of Ukraine. The European Commission is exploring legal pathways for European firms to annul existing gas agreements without breaching contracts, a process fraught with legal complexities.
Despite reduced imports from Russia, the EU is exploring other energy sources, including increased purchases of U.S. LNG. Sanctions remain the most direct method to curb Russian imports, but such measures would require unanimous support from all 27 EU countries, a challenging feat given opposition from Slovakia and Hungary.
(With inputs from agencies.)
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