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    Home > Finance > EU agrees to gradually end Russian gas imports by January 1, 2028
    Finance

    EU agrees to gradually end Russian gas imports by January 1, 2028

    Published by Global Banking & Finance Review®

    Posted on October 20, 2025

    1 min read

    Last updated: January 21, 2026

    EU agrees to gradually end Russian gas imports by January 1, 2028 - Finance news and analysis from Global Banking & Finance Review
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    Tags:oil and gasenergy marketfinancial communityeconomic growthinternational organizations

    Quick Summary

    The EU will phase out Russian gas imports by 2028, ending new contracts by 2026 and existing ones by 2028, to cut off Kremlin funding.

    Table of Contents

    • EU's Strategy to Reduce Dependence on Russian Energy
    • Details of the Phase-Out Plan
    • Implications for the Energy Market

    EU agrees to gradually end Russian gas imports by January 1, 2028

    EU's Strategy to Reduce Dependence on Russian Energy

    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.

    Details of the Phase-Out Plan

    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.

    Implications for the Energy Market

    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)

    Key Takeaways

    • •EU plans to end Russian gas imports by 2028.
    • •New contracts for Russian gas to end by 2026.
    • •Short-term contracts to phase out by June 2026.
    • •Long-term contracts to end by January 2028.
    • •Move aims to reduce Kremlin's war funding.

    Frequently Asked Questions about EU agrees to gradually end Russian gas imports by January 1, 2028

    1What is the EU's energy strategy?

    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.

    2What are short-term contracts in energy?

    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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