Investing.com - Financial Markets Worldwide

Russia says phasing out Russian energy will make EU less competitive

Published 03/12/2025, 12:28
Russia says phasing out Russian energy will make EU less competitive

Investing.com -- The Kremlin has criticized the European Union’s decision on Wednesday to phase out Russian gas imports by 2027, warning the move would reduce Europe’s competitiveness and increase consumer prices.

The EU agreement establishes a legally binding, gradual prohibition on both liquefied natural gas (LNG) and pipeline gas imports from Russia. The ban on Russian LNG will take full effect by the end of 2026, while pipeline gas imports will be completely prohibited by autumn 2027.

Russian gas imports to the EU have already declined significantly since the beginning of the Ukraine conflict in 2022. As of October, Russia accounted for just 12% of EU gas imports, a substantial drop from 45% before the war began.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.