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Investing.com -- The European Union (EU) is set to release plans on Tuesday to halt new Russian gas agreements by the end of the year and gradually terminate existing contracts with Moscow by the conclusion of 2027, according to Reuters, citing three EU officials.
The European Commission is slated to publish a roadmap detailing how it aims to cease Russian fossil fuel imports by 2027, the report said.
This strategic plan will express a commitment to propose a prohibition on new Russian gas import deals and spot contracts by the close of 2025, it added.
Additionally, the roadmap will commit to making a legal proposal to ban Russian gas and liquefied natural gas imports under existing contracts by the end of 2027.
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