EU agrees to phase out Russian gas imports by January 1, 2028

* EU energy ministers on Monday endorsed a proposal to ban Russian oil and gas imports to the bloc by January 2028, according to the Council of the European Union.
* The proposal would prohibit imports of Russian gas from January 1, 2026, while allowing a limited transition period for existing contracts.
* Short-term contracts may continue until June 17, 2026, and long-term contracts may run until Jan. 1, 2028.
* "Amendments to existing contracts will be permitted only for narrowly defined operational purposes and cannot lead to increased volumes, except for some specific flexibilities for landlocked member states affected by recent changes in supply routes," according to the Council's statement [https://www.consilium.europa.eu/en/press/press-releases/2025/10/20/council-agrees-its-position-on-rules-to-phase-out-russian-gas-imports-under-repowereu/].

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