HomeEconomyAlmost 20% of the gas that Europe buys is Russian: the 27...

Almost 20% of the gas that Europe buys is Russian: the 27 EU member states approve the ban on these imports before the end of 2027

Energy ministers have agreed that the measure must now be negotiated with the European Parliament.

On Monday, October 20, European Union energy ministers approved a complete ban on Russian gas imports until the end of 2027, proposed in spring by the Commission. The measure still needs to be negotiated with the European Parliament. Denmark, which holds the rotating EU presidency until the end of the year, expects a final adoption before the New Year, Lars Aagaard said. The EU has been trying to disconnect from Russian hydrocarbons since Russia invaded Ukraine in early 2022.

But while it has almost completely suspended its imports of Russian oil, it remains heavily dependent on Moscow for its natural gas supply: Russia still represented 19% of the European Union’s total gas imports in 2024, up from 45% in 2021. In August it was still the fourth largest buyer (€1.2 billion) of Russian hydrocarbons, although its imports represent only 8% of its revenue. energy of Russia, according to data from the Center for Research on Energy and Clean Air (CREA).

In detail, EU countries mainly buy gas (61% of purchases), which serves as a means of heating for almost a third of European citizens. Two EU countries stand out: Hungary and Slovakia. These landlocked Central European states, whose governments are reluctant to turn their backs on Russia, have won a derogation to continue receiving oil via pipeline.

The European Parliament wants to go further

To accelerate the movement and dry up this important source of financing for the Russian war effort, the European Commission proposed in spring to Member States a complete cessation of imports of Russian gas by the end of 2027. In September, it also proposed bringing forward this deadline to the end of 2026, that is, by just over a year, as regards imports of liquefied natural gas (LNG).

However, this additional measure, proposed within the framework of the 19th “package” of new sanctions against Russia, is not on the menu for this ministerial meeting. For its part, the European Parliament wants to go even further: its Industry and Trade committees approved last Thursday a text aimed at prohibiting all imports of Russian gas, by pipeline or in the form of LNG, as of January 1, 2026, with some limited exceptions.

In September, Russia’s income from its hydrocarbon exports fell 4%, representing 546 million euros per day, the lowest level since the invasion of Ukraine in 2022, according to monthly data from the Center for Research on Energy and Clean Air (CREA). Ukrainian attacks on refineries caused oil exports to decline by 13%. China remains Moscow’s largest customer, ahead of India and Türkiye.

Author: P.La. with AFP
Source: BFM TV

Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read
Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here