European Parliament votes in favor of law to stop importing gas from russia by end of 2027

The European Parliament on Wednesday, December 17, voted in favor of a bill that provides for a complete ban on gas purchases from the aggressor country russia. The refusal from russian gas will last until the end of 2027.

This is stated in a press release on the website of the European Parliament.

"This decision is a response to Russia's systematic use of energy supplies as a weapon... The 2022 invasion was accompanied by further deliberate market manipulation, which led to an eightfold increase in energy prices," the statement said.

The bill was supported by 500 MEPs. 120 parliamentarians voted against it, and another 32 abstained. Now it must be officially approved by the European Council before being published.

This regulation will come into force in early 2026. From that moment on, EU countries will be banned from spot imports of russian liquefied natural gas (LNG). Imports of russian gas supplied by pipelines will be suspended until September 30, 2027.

The draft law adopted by the European Parliament also establishes penalties that will be imposed on operators for violating the law will not buy gas and oil from russia in case of a possible peace agreement.

In late October, Bloomberg reported that the EU countries have increased purchases of russian energy resources at a record level amid plans to completely abandon their imports.