Maroc - ENG.UATV.UA - A La Une - 04/Oct 15:04

European Parliament Seeks Faster Phase-Out of Russian Oil and Gas

Members of the European Parliament are discussing ways to accelerate the phase-out of Russian oil and gas imports in order to finally end the EU’s energy dependence on Moscow, Bloomberg reports. “The European Parliament is considering speeding up the phaseout of Russian oil and gas imports to completely sever ties with its former top supplier,” the outlet wrote. According to people familiar with the matter, the European Parliament’s Industry Committee is set to vote on amendments to the RePowerEU regulation, which would include: a ban on imports of Russian oil and petroleum products starting in early 2026, and a prohibition on all gas deliveries a year later. This move would align the end of pipeline gas imports with the termination of seaborne deliveries already outlined in the proposed EU sanctions package. While sanctions are temporary by nature, the RePowerEU initiative represents a long-term plan to eliminate Europe’s dependence on Russian energy. The report notes that the global gas market is expected to shift into surplus in the second half of next year, reducing the risk that Europe’s phaseout could pressure supplies or cause price spikes. This has helped secure broad political backing for a comprehensive and lasting break with Russia following its full-scale invasion of Ukraine. Originally, the European Commission proposed ending Russian gas imports by the end of 2027, but now the accelerated timeline has gained support among members of several political groups in the European Parliament. Under the proposed RePowerEU amendments, new purchases of Russian gas would be banned starting next year, short-term contracts could remain in force until mid-June, and long-term agreements would expire by January 1, 2027. Earlier, The Times reported that despite more than three years of full-scale war, EU countries continue to pay Russia around €1 billion per month for oil and gas. The post European Parliament Seeks Faster Phase-Out of Russian Oil and Gas appeared first on Freedom.