Published by Global Banking & Finance Review®
Posted on October 20, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleThe EU will phase out Russian gas imports by 2028, ending new contracts by 2026 and existing ones by 2028, to cut off Kremlin funding.
BRUSSELS (Reuters) -The European Union 's energy ministers on Monday backed the bloc's proposals to phase out Russian oil and gas imports by January 2028, the Council of the European Union said on Monday.
In a meeting in Luxembourg, EU energy ministers approved the plans, which would also phase out Russian gas imports under new contracts from January 2026, then existing short-term contracts from June 2026, and long-term contracts in January 2028.
The EU wants to phase out Russian oil and gas imports in a bid to deprive the Kremlin of revenues to fund its war in Ukraine.
(Reporting by Bart Meijer, Kate Abnett and Inti Landauro; Editing by GV De Clercq)
The EU's energy strategy aims to reduce dependence on Russian oil and gas imports by phasing them out by January 2028, enhancing energy security and sustainability.
Short-term contracts in energy refer to agreements for the supply of energy resources that typically last for a limited period, often less than one year.
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