European Parliament considers speeding up phase-out of Russian oil and gas imports – Bloomberg
The European Parliament is considering accelerating the phase-out of Russian oil and gas imports.
Bloomberg reported this, citing sources, according to Censor.NET.
According to the sources, the Parliament’s industry committee is set to vote on amendments to the RePowerEU plan that would end imports of Russian oil and petroleum products from early 2026 and ban Russian gas supplies from 2027.
The move could align the phase-out of pipeline gas imports with the termination of seaborne deliveries already envisaged in the EU’s proposed sanctions package. However, unlike sanctions, the RePowerEU plan is more long-term, the report noted.
Bloomberg noted that in the second half of 2026, the global gas market is expected to move into surplus. This would reduce the risk that the EU’s withdrawal from Russian supplies would pressure markets and drive up prices.
The agency recalled that the European Commission initially proposed ending Russian gas supplies by late 2027.
According to the sources, the previously proposed gradual phase-out of gas supplies had already been backed by members of several political groups in the European Parliament.
Under the RePowerEU amendments, new purchases of Russian oil would be banned from the start of next year, while existing short-term contracts would be exempt until mid-June and long-term contracts until 1 January 2027.
