EU Declares Force Majeure on Russian Gas Contracts Amid Proposed Ban

European Union Energy Commissioner Dan Jorgensen announced on Monday that the European Commission's intention to ban Russian gas will amount to force majeure for companies in Europe holding gas supply contracts with Russia.

Jorgensen clarified that, in light of this ban, the EU will not provide compensation to countries for discontinuing the use of Russian gas.

The Commission's legal team has affirmed that this prohibition safeguards companies from legal issues, ensuring it is considered force majeure, thus exempting them from liability.

(With inputs from agencies.)