The European Union is gearing up to take a significant step in reducing its reliance on Russian energy. According to a recent report by Bloomberg, the European Commission plans to propose legislation that would phase out all Russian pipeline and liquefied natural gas (LNG) imports by the end of 2027. This move comes as a response to the ongoing conflict in Ukraine, which has led to a significant escalation of tensions between Russia and the EU.
Since 2022, the EU has been actively seeking to sever its energy ties with Russia, which was once its largest supplier. Despite a notable decrease in volumes, Russia remains a substantial source of gas for the bloc, with pipeline imports via Turkey and shipments of LNG continuing to flow. However, the EU is now looking to put an end to this, with plans to propose a ban on new Russian gas contracts and spot purchases by the end of the year.
The proposed ban is expected to have a significant impact on the EU’s energy landscape. France, Spain, and Belgium are among the countries that continue to import significant volumes of Russian LNG, accounting for 85% of Europe’s LNG imports from the sanctioned country. According to the Institute for Energy Economics and Financial Analysis (IEEFA), Russia supplied 17.5% of the bloc’s LNG in 2024, second only to the US, which had a 45.3% share.
The move could also create opportunities for US LNG exports, with Bloomberg sources suggesting that the proposed ban could lead to increased demand for American gas. Washington has long been urging the EU to reduce its reliance on Russian energy, with the US describing its own LNG as “molecules of freedom.” However, a recent Reuters report cautioned that banning Russian LNG could weaken the EU’s hand in trade talks with the US, where Brussels is seeking to use energy imports as leverage to lift tariffs on EU goods.
Meanwhile, some EU industry leaders have been calling for a return to cheaper Russian gas amid a worsening manufacturing crisis. Russia has repeatedly stated that it remains a reliable energy supplier and has denounced Western sanctions and trade restrictions targeting its exports as illegal under international law. The country has also successfully shifted its exports to “friendly” markets, highlighting the complexities of the global energy landscape.
As the EU prepares to unveil its plans in Strasbourg, the proposed ban on Russian LNG imports is set to have far-reaching implications for the bloc’s energy security and its relations with major suppliers like the US and Russia. With the EU seeking to balance its energy needs with its geopolitical priorities, the coming months are likely to be crucial in shaping the future of Europe’s energy landscape.
