EU Reaches Agreement on Banning Russian Gas by 2027 | OilPrice.com

Contributing sentiments towards policy:

56% : In terms of total gas imports, Russia had a 12% share of the EU market in October, Reuters noted in its report.
49% : The European Union has finally managed to reach an agreement on how to phase out imports of Russian natural gas in line with sanction efforts to punish Moscow for the invasion of Ukraine by sapping its energy commodity export revenues.
47% : Russian energy exports to the European Union stand at a fraction of what they used to be prior to February 2022, yet the European Union is still Russia's biggest LNG client.
44% : The reason that it has taken so long for the European Union to reach an agreement on the ban of Russian gas imports is, of course, price.
43% : However, the EU has demonstrated repeatedly that it does not prioritise energy affordability, even when its own businesses warn against energy cost inflation in view of its effect on the broader economy.
29% : Earlier this year, the EU made the first tentative steps towards banning Russian LNG by making transhipment of Russian LNG for re-export to third countries from EU ports illegal.

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