European Commission aims to halt gas imports from Russia by December 2027

Vibe Check: The EU's kickin' a Russian gas habit, fam! Here's the lowdown on their latest move to nix the dependence.

The Scoop: The European Commission is dropping a "roadmap" today, featuring plans to slash Russian gas deals by the end of 2027. The scheme involves banning new gas pacts with Mother Russia by the end of '25 and gradually axing current imports by '27. Got it? Solid.

The Streets Say: According to rumors from three top EU officials, leaked to Reuters, the doc will pledge a ban on fresh imports and spot deals for Russian gas by mid-year, and a full-on '27 pullout for both pipeline and liquefied natural gas imports under existing contracts.

Clapback: But wait! The Commission's plan is subject to change. Previously, Reuters revealed that the EU probably can't cancel existing Russian gas supply contracts using legal routes like ‘force majeure’, cause Russia's deliverin' the goods as promised.

On the Street Level: While the EU's tryin' to ditch Russian gas, some biz Reviews are remainin' indecisive – some companies are even thinkin' ‘bout wrapin' up full-scale imports again. Ouch, that office gossip ain't good for the EU's green agenda.

The Backstory: This plan is part of a broader EU mission to free their energy needs from Russian clutches, spurred by geopolitical drama and economic woes following the Ukraine conflict. They've already sunk their teeth into reducin' reliance on Russian gas, with imports sinkin' from about 40% in the pre-Ukraine era to around 15% in '23, though it ticked back up to nearly 19% by '24. Keep an eye on it, though—the goal is still to drop it to zero by '27.

REPowerEU Agenda: The EU launched this program in '22, aimin' to reduce Russiaville on their energy scene by '27. The REPowerEU agenda focuses on energy-saving measures, clean energy production, and expandin' other energy sources.

References:

EU to phase out Russian gas by 2027, report says
REPowerEU: Joint European Union action for reducing our dependence on Russian fossil fuels
REPowerEU: What's driving progress?
REPowerEU targets for 2025 and 2027
Despite the EU's efforts to ignore Russian agreements involving gas pipeline imports and switch to cleaner energy, some general news reports suggest that certain businesses are still considering resuming full-scale imports of Russian gas.
In correspondence with the REPowerEU agenda, the European Commission has proposed a roadmap that aims to significantly reduce Russian gas imports by the end of 2027, including plans to disregard new gas pacts with Russia by 2025 and gradually phase out current imports by 2027.
The political ramifications of the EU's policies and legislation have become a hot-button issue, as some critics argue that the commission's plan to reduce Russian gas imports could be thwarted by existing contracts and the lack of legal routes to cancel these agreements.
The move by the European Commission to slash Russian gas deals through policy-and-legislation is seen as a critical component of the EU's broader mission to free itself from dependence on Russian gas, a process that was accelerated by geopolitical drama and economic concerns following the Ukraine conflict.