Overview

• The EU Commission has unveiled a two-phase plan to eliminate Russian gas imports, targeting a complete cessation by the end of 2027.
• Phase one involves banning spot-market purchases and prohibiting new long-term contracts for Russian gas by the end of 2025.
• The proposal is part of broader efforts to weaken Russia's war financing and reduce Europe's reliance on Russian energy sources.
• Hungary's opposition to the plan highlights potential challenges to achieving consensus among EU member states.
• The EU aims to mitigate supply disruptions by increasing LNG imports from alternative suppliers such as the US, Qatar, and Canada.