Lawmakers agree on EU proposal to phase out Russian fossil-fuel imports

By Eleonora Rinaldi ( October 3, 2025, 13:51 GMT | Insight) -- Lawmakers from the European Parliament’s energy and international trade committees agreed on a final text of the EU phase out plan of Russian fossil-fuel imports, according to a document seen by MLex dated Oct. 2. The draft, to be voted on at committee level on Oct. 16, suggests banning long-term contracts with Russian suppliers by Jan. 1, 2027 — one year earlier than the original deadline. Lawmakers also included provisions to extend prohibitions to Russian oil, gas and LNG storage, as well as materials refined or derived from Russian crude oil. Any company in breach of the ban would face a penalty equal to 5 percent of its annual turnover.European importers could see the EU ban on Russian gas extended to oil, gas and LNG storage, as well as “petroleum products” — materials refined or derived from Russian crude oil — under lawmakers’ latest compromise text seen by MLex....