Overview
- EU envoys approved a phased plan to halt Russian gas purchases, advancing the package into the EU’s formal lawmaking process.
- The timetable foresees ending Russian LNG imports by late 2026 and phasing out pipeline deliveries by 2027.
- A Commission-activated suspension can apply only after a member state declares a gas emergency, limited to short-term contracts for crisis management.
- Any suspension runs for up to four weeks initially, can be extended, and must be reported by the Commission to the European Parliament and the Council.
- Breaches could draw fines of at least €40 million, 3.5% of global turnover or 300% of a deal’s value, while the ban is estimated to remove over 17% of EU gas imports and Russia warns of higher costs and reliance on intermediaries.