The Kremlin has condemned the EU's decision to gradually abandon imports of Russian gas by 2027, noting that this will condemn Europe to reduced competitiveness and lead to higher prices for producers, Reuters reported, quoted by BTA.
The agreement reached between the European institutions will include a legally binding, phased ban on liquefied natural gas (LNG) and pipeline gas imported from Russia. A full ban will apply from the end of 2026 and 2027, respectively. The conclusion of additional agreements under existing contracts will be allowed in exceptional cases and for limited volumes of supplies.
The EU imported 12 percent of its natural gas needs from Russia in October. Before the start of the war in Ukraine in 2022, the share of Russian imports was 45 percent, Reuters recalls.
The EU Council and the European Parliament announced earlier today that they had reached preliminary approval tonight of the European Commission's proposal to gradually stop importing Russian gas in the coming months. The decision is yet to be further approved by MEPs and EU countries.