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EU gas contracts with Russia to be banned by 2027

By Eleonora Rinaldi ( June 17, 2025, 13:17 GMT | Insight) -- EU importers of Russian LNG and pipeline gas will need to ban all existing contracts by 2027, according to the European Commission’s new legislative proposal, published today. From Jan. 1, all new gas contracts with Russia will be prohibited, while existing short-term contracts must be phased out by June 17, 2026. Long-term contracts will have a more gradual path to termination by the end of 2027. No major impacts on prices or supply security are expected, though more arbitration proceedings are likely, a senior commission official said.EU oil and gas companies will face a multi-level phaseout of Russian oil and gas imports, under the legislative proposal unveiled today by the European Commission (see here)....

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