EU agrees to phase out Russian gas by 2027

The European Council and Parliament agreed on a binding plan to phase out all Russian LNG and pipeline gas imports by 2027.

Transcript

00:00Welcome back, the European Union has agreed on a deal to phase out Russian gas imports by 2027

00:06and banning into law the end of the bloc's reliance on its former top energy supplier.

00:12Under the agreement, the EU will introduce a legally binding gradual ban on both liquefied natural gas and pipeline gas from Russia.

00:22The ban will be implemented in stages with full prohibition set for late 2026 and third quarter of 2027.

00:30The measure was first proposed by the European Commission in June to address energy security risk

00:35following Russia's invasion of Ukraine and its curb on gas supplies to the bloc.

00:40Russia supplied 12% of the EU's gas in October, down sharply from 45% before the 2022 invasion,

00:47though several member states continue to receive Russian gas.