The European Union is gearing up to impose a ban on gas imports from Russia by the end of 2027.

This move is part of the EU's strategy for energy security, according to Bloomberg.

Ending dependence: EU prepares to ban all Russian gas imports

The share of Russian gas in the total EU imports has significantly decreased.

In 2024, it stood at approximately 19%, whereas it exceeded 40% before the onset of the conflict.

To further reduce this dependence, the EU plans to propose a complete ban on Russian gas imports in June.

The ban will apply to both new agreements and existing spot contracts.

These restrictions, which will also encompass spot contracts, are expected to take effect no later than the end of 2025.

How long-term contracts affect the ban on Russian gas in the EU

A significant portion of Russian liquefied natural gas is delivered to Europe under long-term contracts.

The European Commission intends to inform the European Parliament about the proposal to ban Russian gas imports in June.

The ban is expected to come into effect by the end of 2027.

The implementation of this timeline relies on the ability of EU member states to increase LNG imports from alternative sources.

Currently, discussions are taking place regarding LNG purchases from the USA.

The EU plans to unveil a strategy for phasing out oil and gas imports from Russia in May.

In response to Russia's aggression against Ukraine, the EU has committed to ending the use of Russian fossil fuels by 2027.

Analysts recommend that the EU consider imposing tariffs on Russian gas imports.

Currently, the EU is looking into increasing LNG purchases from the USA.