EU to completely cut gas imports from Russia by 2027

In the face of new assessments from experts and intelligence agencies that show many potential security challenges in the region, the EU has set 2027 as an important milestone to complete the elimination of Russian gas imports.

The European Commission (EC) has announced a specific plan to end all energy imports from Russia by the end of 2027. Accordingly, the EU will increase market transparency, monitoring and traceability of imported gas.

New contracts with Russian suppliers will no longer be signed, while existing spot contracts will end at the end of this year.

In addition, the EU also focuses on controlling the activities of oil tankers suspected of violating the embargo, also known as the "dark fleet".

In addition, the EU also adjusted its policy related to the nuclear energy sector. The European Atomic Energy Supply Agency (Euratom Supply Agency) will gradually reduce new contracts with Russian partners, including the supply of uranium, enriched uranium and other nuclear materials.

According to EC data, the share of Russian gas in the EU's total imports has decreased from 45% to 19% thanks to the REPowerEU plan implemented from May 2022.

EU Energy Commissioner Dan Jorgensen stressed on May 13 that the EU is aiming to no longer depend on energy from Russia. He affirmed: “This roadmap is a clear signal: we no longer want to import gas or oil from Russia.”

The EU has also stepped up monitoring of the SPFS system, Russia’s interbank money transfer system developed as an alternative to the SWIFT international payment system. In its 16th round of sanctions, the EU banned all SPFS transactions outside Russia and imposed additional measures on Belarus to prevent the risk of spreading.

“It is clear that we cannot rely on the US as we have in the past for our security,” said a source close to the EU’s energy security agency. What needs to happen is for the EU to assert itself, maintain the current sanctions and expand them, with the goal of no longer importing fossil fuels from Russia, especially gas, by the end of 2027.

The source also said that the EU is considering introducing a number of new tools, including the possibility of adjusting the ceiling price of Russian oil, from the current level of 60 USD/barrel to closer to the cost of production, around 40 USD/barrel.

These moves show the EU's determination to reshape its energy policy and reduce its dependence on Russia before the 2027 milestone.

Source: https://baoquangnam.vn/eu-cat-giam-hoan-toan-viec-nhap-khau-khi-dot-tu-nga-truoc-2027-3155933.html