After banning Russian oil in 2022, the EU proposes phasing out Russian gas and maximising profits from Russian assets.
The European Commission floated a plan last week to phase out all Russian gas imports by the end of 2027.
The plan, unveiled on Tuesday at the end of the Group of Seven summit in Canada’s Kananaskis resort, would immediately ban new contracts to buy Russian gas. It would allow existing short-term contracts to run their course by next June, and cut short any long-term contracts at the end of 2027.
“To achieve peace through strength, we must put more pressure on Russia to secure a real ceasefire, to bring Russia to the negotiating table, and to end this war,” said Commission President Ursula von der Leyen. “Sanctions are critical to that end.”
Russia unleashed 32 missiles and 440 drones on Kyiv as the plan was unveiled, killing 26 people and injuring 134. The attack damaged railway infrastructure and lit fires. Odesa was also hard hit.
