EU's Bold Plan to Phase Out Russian Gas
The European Union is considering phasing out Russian gas within the next 6 to 12 months by importing U.S. liquefied natural gas. The plan is part of the EU's aim to cut energy revenue to Russia, which helps fund the Ukraine war. The EU has set a target to phase out Russian energy imports by 2028.
The European Union is preparing to drastically reduce its energy dependence on Russia by potentially sourcing liquefied natural gas from the United States within the next six to twelve months. The U.S. energy secretary, Chris Wright, discussed these plans with EU officials, highlighting a significant shift in Europe's energy policy.
During his visit to Brussels, Wright met with EU energy commissioner Dan Jorgensen to debate ending the region's reliance on Russian energy imports. The EU aims to legally phase out Russian oil and gas by 2028, initiating a ban on short-term contracts as early as next year. Wright suggested that the transition could occur as soon as in six months.
While the EU Commission seeks to reduce Russian fuel imports swiftly, opposition from Hungary and Slovakia has required the EU to propose a 2028 deadline, achievable by majority approval among EU states. The bloc's energy shift intends to limit Russia's financial capacity to sustain its military activities in Ukraine.
(With inputs from agencies.)
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