Brussels [Belgium], December 3 (ANI): The European Union announced it is entering a 'new era' by phasing out all Russian gas and oil imports, with gas imports to stop by autumn 2027, European Commission President Ursula von der Leyen said on Wednesday.

'This is the dawn of a new era, the era of Europe's full energy independence from Russia,' von der Leyen told reporters following an overnight agreement between European Union institutions.

This plan includes a ban on new long-term Russian gas pipeline contracts by September 30, 2027, and LNG contracts by January 1, 2027. The bloc is also drafting a separate plan to end Russian oil imports by the end of 2027.

European Union Energy Commissioner Dan Jorgensen posted on X that 'We've made it: Europe is turning off the tap on Russian gas, forever,' and added, 'We've chosen energy security and independence for Europe.'

This agreement is part of the REPowerEU Plan launched in 2022 to reduce dependency on Russian energy following Russia's invasion of Ukraine.

Under the deal, long-term pipeline gas contracts will stop from 30 September 2027 if storage levels allow, and in any case by 1 November 2027. Long-term liquefied natural gas agreements will end from 1 January 2027, with short-term liquefied natural gas contracts ending from 25 April 2026 and short-term pipeline gas contracts finishing from 17 June 2026.

A European Council statement said the measure aims 'to end dependency on Russian energy following Russia's weaponisation of gas supplies with significant effects on the European energy market.' The timeline still requires final approval from both the European Parliament and member states.

European companies will be able to use 'force majeure' provisions to legally exit existing contracts under the ban. The deal also asks the European Commission to prepare a plan to phase out Russian oil supplies to Hungary and Slovakia by the end of 2027.

The European Union reduced Russian oil imports in 2022 but granted exemptions to Hungary and Slovakia due to their landlocked status. The shift away from Russian fuel comes almost four years after the invasion of Ukraine, as Brussels works to cut a major source of revenue linked to energy supplies.

Russian gas accounted for 45 per cent of the European Union's imports in 2021, but declined to 19 per cent in 2024. While pipeline deliveries have decreased, liquefied natural gas transported by sea and fed into European systems continues to arrive.

The United States supplied 45 per cent of liquefied natural gas imports in 2024, while Russia supplied 20 per cent, equal to nearly 20 billion cubic meters out of approximately 100 billion. Imports of Russian liquefied natural gas into the European Union were still expected to total around 15 billion euros this year. (ANI)