A blow to the Russian energy sector: The EU has presented a plan for a complete phaseout of Russian energy carriers.

The European Commission published a plan for EU countries to entirely eliminate Russian energy carriers, through which negotiations on new contracts with suppliers of Russian gas (pipeline and LNG) will be suspended, and all existing spot contracts will remain valid until the end of 2025. The EC proposes the halting of all imports of gas and oil from Russia by the end of 2027 and calls on each EU member state to develop national initiatives to replace Russian energy carriers.

Additionally, the plan includes “new actions to address the problem of the Russian shadow fleet” and restrictions on new contracts for the supply of enriched uranium and nuclear materials from Russia.

However, the rejection of nuclear fuel from Russia does not have clear deadlines; it will occur gradually with an emphasis on developing European alternatives.

It should be noted that since the beginning of the Russian invasion of Ukraine, the share of Russian gas in EU consumption has already decreased from 45% to 19%, and oil from 27% to 3%.