EU takes steps to reduce dependence on Russian gas imports

As part of initiatives to ensure the region's energy security, the European Union is considering a ban on Russian gas purchases with instant delivery. According to Bloomberg, a draft of the document will soon be presented to EU member states.

Since February 2022, the bloc has been actively trying to reduce hydrocarbon imports from Russia. However, completely rejecting Russian gas has proven difficult. As the news agency emphasizes, this is due to the fact that most of the cargo is provided under long-term contracts.

Bloomberg experts say that the ban on purchasing gas from Russia with immediate delivery may be the first step toward completely restricting energy supplies from the country. Currently, Russia is the second-largest gas supplier to the European Union, far ahead of the United States. In order to transition away from long-term fuel purchase contracts, the EU will require the unanimous support of all its member states.

The document considers restrictive measures such as a ban on Russian gas imports, as well as tariffs and quotas.