The European Parliament and EU governments reached a historic agreement on Tuesday morning on a gradual ban on Russian gas, ending the union’s 57-year energy dependence on Moscow by September 30, 2027.
Imports of liquefied gas from Russia will be banned from January 1, 2027, and pipeline supplies from September 30 of the same year.
The main concession in the agreement was that the European Commission would present a proposal for a ban on Russian oil in early 2026, which would enter into force “no later than the end of 2027.”
Sanctions for violating the ban would amount to €40 million, 300% of the transaction value or 3.5% of annual turnover.
