The European Union agreed to completely cut off Russian gas by the end of 2027
EU member countries have agreed to gradually cut off the remaining gas imports from Russia by the end of 2027
These plans, which still need to be approved by the European Parliament, are designed to prevent Russia from using energy exports to finance the war in Ukraine
The mechanism used to overcome any opposition from Hungary and Slovakia is designed to effectively force them to stop buying Russian gas
Since the start of Russia’s full-scale invasion of Ukraine in 2022, the EU has significantly reduced gas imports from Russia, but several Eastern European countries are still largely dependent on Russian gas, which means about 5 billion euros in annual revenue for Russia
According to EU statistics, Russian gas accounted for less than 10 percent of the EU’s gas imports in 2023, whereas this figure was 40 percent in 2021