Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >EU countries seek to keep Russian gas exit plans secret, document shows
    Finance

    EU Countries Seek to Keep Russian Gas Exit Plans Secret, Document Shows

    Published by Global Banking & Finance Review®

    Posted on July 10, 2025

    3 min read

    Last updated: January 23, 2026

    Add as preferred source on Google
    EU countries seek to keep Russian gas exit plans secret, document shows - Finance news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:oil and gasEuropean Commissionfinancial marketsrenewable energy

    Quick Summary

    EU plans to phase out Russian gas by 2027 remain confidential. Denmark leads negotiations, while Slovakia and Hungary oppose the ban.

    EU Nations Aim to Keep Russian Gas Phase-Out Plans Confidential

    By Kate Abnett

    BRUSSELS (Reuters) -European Union governments want Brussels to keep secret how they plan to phase out using Russian oil and gas by the end of 2027, an internal EU document seen by Reuters showed.

    The European Commission last month proposed legislation to phase out EU imports of Russian oil and gas - part of which would require countries to produce national plans setting out measures and timelines for how they will do this.

    EU governments are now negotiating the proposal, and have demanded that the Commission keep those plans secret, a draft negotiating document showed.

    "Those plans should be subject to the rules of professional secrecy and not be disclosed without the agreement of the respective Member State," said the document, drafted by Denmark which holds the rotating EU presidency and leads negotiations among EU countries.

    Countries' plans should "describe intended measures at national or regional level to reduce demand, foster renewable energy production and ensure alternative supplies, as well as possible technical, contractual or regulatory barriers which may complicate the diversification process," it added.

    Countries may want to avoid sharing information with markets that could affect gas prices, or reveal sensitive information on their plans to source non-Russian fuel supplies.

    While countries would still be obliged to submit their plans to Brussels, "professional secrecy" would mean the information would not be disclosed to any other person or authority, the document said.

    The Commission proposal had not confirmed whether or not the plans would be kept secret.

    A spokesperson for Denmark's EU presidency declined to comment on the negotiations.

    EU countries' diplomats will discuss the document next week. The negotiations are at an early stage, and have not yet tackled issues including potential legal risks for companies that break their Russian gas contracts, EU diplomats said.

    Slovakia and Hungary still import Russian gas via pipeline. They have opposed the Russian gas ban, which Brussels designed so it can be legally passed without their support.

    However, Slovakia has said it will block new EU sanctions on Russia over its war in Ukraine - which require unanimous approval from all 27 EU countries - unless its concerns over gas supplies are resolved. EU countries' ambassadors are due to discuss the sanctions package on Friday.

    Prime Minister Robert Fico said on Thursday the EU had not yet addressed Slovakia's concerns about high gas prices and demands for compensation for halting Russian gas imports. European Commission officials travelled to Bratislava last week for talks on the government's concerns.

    "At this point, we refuse to vote for the 18th package of sanctions," Fico said.

    (Reporting by Kate Abnett. Additional reporting by Jan Lopatka. Editing by Mark Potter)

    Key Takeaways

    • •EU aims to phase out Russian gas by 2027.
    • •Plans to remain confidential during negotiations.
    • •Denmark leads EU negotiations on the proposal.
    • •Slovakia and Hungary oppose the gas ban.
    • •Sanctions discussions continue amid gas concerns.

    Frequently Asked Questions about EU countries seek to keep Russian gas exit plans secret, document shows

    1What do EU governments want regarding their gas phase-out plans?

    EU governments want Brussels to keep their plans for phasing out Russian oil and gas secret, as indicated by an internal document.

    2What is the purpose of the proposed legislation by the European Commission?

    The proposed legislation aims to phase out EU imports of Russian oil and gas by the end of 2027, requiring countries to produce national plans detailing their measures.

    3Which countries are opposing the Russian gas ban?

    Slovakia and Hungary are opposing the Russian gas ban and still import Russian gas via pipeline.

    4What concerns did Slovakia raise regarding the EU sanctions?

    Slovakia has expressed concerns about high gas prices and demands for compensation for halting Russian gas imports, stating they will block new EU sanctions unless addressed.

    5What does 'professional secrecy' mean in the context of the plans?

    'Professional secrecy' means that while countries must submit their plans to Brussels, the information will not be disclosed to any other person or authority without the respective Member State's agreement.

    More from Finance

    Explore more articles in the Finance category

    Image for Sterling steady as traders remain cautious about efforts to end Iran war
    Sterling Steady as Traders Remain Cautious About Efforts to End Iran War
    Image for Dutch gas storage levels hit lowest level in years
    Dutch Gas Storage Levels Hit Lowest Level in Years
    Image for London's FTSE 100 climbs on prospects of Middle East ceasefire 
    London's FTSE 100 Climbs on Prospects of Middle East Ceasefire 
    Image for Analysis-Ukraine faces new Russian offensive as peace talks stall
    Analysis-Ukraine Faces New Russian Offensive as Peace Talks Stall
    Image for German army eyes AI tools to expedite wartime decision-making
    German Army Eyes AI Tools to Expedite Wartime Decision-Making
    Image for Hungary to curb gas flows to Ukraine until Druzhba oil flows resume, Orban says
    Hungary to Curb Gas Flows to Ukraine Until Druzhba Oil Flows Resume, Orban Says
    Image for NatWest to sell HR consultancy unit Mentor in streamlining push, Sky News reports
    NatWest to Sell HR Consultancy Unit Mentor in Streamlining Push, Sky News Reports
    Image for Italy's growth outlook darkens due to Iran conflict, business lobby says
    Italy's Growth Outlook Darkens Due to Iran Conflict, Business Lobby Says
    Image for Denmark's prime minister hands in government resignation after election defeat
    Denmark's Prime Minister Hands in Government Resignation After Election Defeat
    Image for ECB's Lane flags selling prices and wages as key indicators
    ECB's Lane Flags Selling Prices and Wages as Key Indicators
    Image for UK house prices rise by least since September 2024 in January
    UK House Prices Rise by Least Since September 2024 in January
    Image for Commerzbank supervisory board committee met 11 times to discuss UniCredit in 2025
    Commerzbank Supervisory Board Committee Met 11 Times to Discuss UniCredit in 2025
    View All Finance Posts
    Previous Finance PostRussia Says BRICS Is Not anti-American
    Next Finance PostMoscow Demands Access to Russian Basketball Player Held in France