EconomyEnergyPolitics The EC has authorized a plan to utterly abandon Russian fuel and oil. Wednesday, June 18, 2025

The European Fee has authorized a legislative proposal that outlines a gradual phase-out of Russian fuel and oil imports into the EU by the tip of 2027, with the objective of enhancing the bloc’s vitality independence and competitiveness. The regulation entails a gradual discount in imports of pipeline fuel and LNG from Russia, in addition to a complete cessation of Russian oil imports by the tip of 2027. EU international locations are required to develop diversification plans with clear measures and timelines. Beginning January 1 2026, signing new contracts for Russian fuel imports might be prohibited. Quick-term contracts will expire by June 17 2026, with exceptions for pipeline fuel for landlocked international locations, the place long-term contracts will stay legitimate till the tip of 2027. Lengthy-term contracts for LNG terminal companies for Russian clients may even be banned, facilitating a shift to various suppliers. The EC will oversee the method and implement emergency measures if provide is in danger. Moreover, the regulation enhances transparency by mandating that corporations disclose info on contracts together with the origin of the bought fuel.