Latest news with #EnergyIndependence
Bloomberg
2 days ago
- Business
- Bloomberg
Europe Set to Move a Step Closer to Halting Russian Gas Imports
The European Union is expected to take a major step next week toward curbing Russian gas imports starting next year with aims to sever ties with its former top supplier by the end of 2027. The European Commission is set to propose on June 17 a measure to end the bloc's reliance on pipeline and liquefied natural gas supplies from Moscow, according to people familiar with the matter. The regulation aims to help achieve Europe's yearslong goal of halting dependence on Russia following its invasion of Ukraine in 2022.
BBC News
06-05-2025
- Business
- BBC News
EU plans to end Russian gas imports by end of 2027
EU plans to end Russian gas imports by end of 2027 In response to the plans, Kremlin spokesperson Dmitry Peskov told the Reuters news agency on Tuesday that Europe was "shooting itself in the foot". "No more will we permit Russia to weaponise energy against us... No more will we indirectly help fill up the [Kremlin's] war chests," European Commissioner for Energy Dan Jorgensen said in a news conference in Strasbourg on Tuesday. Under the plans, imports of all Russian gas and liquefied natural gas to European Union member states will be banned by the end of 2027. The European Commission has published a "roadmap" outlining its plans to end Europe's reliance on Russian energy in the coming years. The plans would stop Russia's ability to "weaponise energy against us", European Energy Minister Dan Jorgensen said The European Union vowed to end its energy relations with Russia after Moscow launched its full-scale invasion of Ukraine in 2022. A set of legislative proposals will be tabled in June asking all EU member states to make "national plans" to phase out Russian gas, nuclear fuel and oil imports, according to the European Commission. EU member states must submit strategies under the plans for replacing Russian oil imports by the end of 2027. Countries have also been asked to outline strategies for ending their reliance on Russia for uranium, enriched uranium and other nuclear materials. The EU hopes to move away from Russian gas by "enhancing energy efficiency, accelerating the deployment of renewable energy and diversifying supplies", the European Commission said. While EU dependence on Russian oil, gas and nuclear fuels has decreased significantly since Putin's invasion of Ukraine, the bloc still imports a significant quantity of its energy from Russia. According to the report, EU gas imports from Russia have decreased from 45% in 2021 to 19% in 2024. The share of Russian oil imports has also shrunk from 27% at the beginning of 2022 to 3% now. Work must be done to reduce the bloc's reliance on Russian nuclear supplies, products and services, the report said, with more than 14% of uranium in the EU sourced from Russia in 2024. The EU's reliance on Russian gas, oil and nuclear fuel poses "risks to our economic security" and financially supports Russia's war economy, the report said. "We've come far, but not far enough," Jorgensen added in Tuesday's news conference, adding that measures to phase out Russian energy would be "stepwise and gradual" to minimise the impact on the EU. The roadmap also includes plans to target Russia's use of "shadow fleets" – oil tankers "with obscure ownership and insurance" that Russia uses to maintain its oil exports and bypass sanctions.
