EU Finalizes Deal to Phase Out Russian Gas Imports by 2027 (3)

The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier.

In the aftermath of the invasion of Ukraine, traders and energy companies have closely monitored the EU’s shift away from Russia toward alternative suppliers such as the US and the Middle East. But while Europe halved purchases after the war began in 2022, Russian gas has continued to account for roughly a fifth of imports.

Negotiators representing member states, the European Parliament and the European Commission cut that ...