By Sama Marwan,
The European Union is set to soon outline ways to block new Russian gas deals and gradually phase out existing contracts with Moscow, as it seeks to end decades-long energy ties with Europe’s largest gas supplier.
According to Business Standard today, the EU has a non-binding goal of ending its reliance on Russian fossil fuels by 2027 — a target set after Moscow’s full-scale invasion of Ukraine in 2022.
The European Commission, the EU’s executive body, will soon publish a “roadmap” detailing more specific plans to achieve this, including measures aimed at banning new Russian gas import deals and spot contracts.
The Commission is also assessing legal options that would allow European companies to break existing Russian gas contracts by the end of 2027.
However, legal experts have warned that invoking “force majeure” to exit such deals could be difficult, and buyers might face penalties or arbitration if they attempt to do so.
