EU Declares Force Majeure on Russian Gas Contracts Amid Proposed Ban
EU Energy Commissioner Dan Jorgensen announced that the European Commission’s ban on Russian gas will constitute force majeure for affected companies. He clarified that the EU will not compensate nations phasing out Russian gas, ensuring companies face no legal repercussions due to the prohibition.
- Country:
- Belgium
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.)
Advertisement
ALSO READ
Remsons Automotive Secures Major Contracts and Expands Global Partnerships
Breaking Updates from the Sports World: Trades, Contracts, and Farewells
Sports Stars Take the Spotlight: Contracts, Comebacks, and Records
Sports Landscape Shifts with Key Retirements and Bold Contracts
Garuda Aerospace Lands Major Government Contracts in Mining
Google News