EU to set 2027 deadline for severing energy contracts with Russia

Contributing sentiments towards policy:

59% : Despite a significant decrease in pipeline gas, the EU has increased its imports of LNG from Russia, with shipments hitting record levels last year.
58% : According to Kpler, a data and analytics company, there were 17 shipments from the Yamal LNG plant in Russia to EU destinations in April.
51% : The European Commission will set a 2027 deadline for EU companies to sever any remaining energy contracts with Russia and shift to other sources including the US, according to officials.
51% : The plan, to be announced on Tuesday, has been closely guarded ahead of publication by senior EU officials wary of its likely impact on the energy market.
49% : Russia's share has since dropped to around 13 per cent of gas imports, including liquefied natural gas, and less than 3 per cent of oil imports.
46% : While Russian oil and coal are subject to strict sanctions, the EU has struggled to ban gas imports because of opposition from pro-Russian governments such as Hungary and Slovakia that argue doing so would increase energy prices.
43% : The commission document is intended in part to signal to Washington that the EU is ready to buy more US LNG as part of a deal to reduce its trade deficit, officials have said.
37% : Before 2022, the EU sourced more than two-fifths of its pipeline gas imports and around 28 per cent of imported crude oil from Russia.

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