EU plans to finish phasing out Russian LNG by Jan 1, 2027

BRUSSELS. Oct 23 (Interfax) - The European Union countries will complete the process of phasing out Russian liquefied natural gas (LNG) by January 1, 2027, the EU's 19th package of anti-Russian sanctions, published on Thursday, said.

The EU's goal is a ban on purchases, imports, and direct or indirect transfers of Russian LNG to the EU, the document said. According to the plan, providing relevant technical and financial assistance will also be prohibited.

The first stage of the ban on LNG purchases from Russia is due to take effect on April 25, 2026 and will apply only to some of the contracts, the document said. A full ban is expected to enter into force on January 1, 2027.

Starting from April 25, 2026, the EU countries will be banned from buying, importing or shipping LNG produced in Russia or exported from Russia, the document said. All direct or indirect technical support, brokerage services, financial and other services related to the ban will also be prohibited.

This ban enters into force only from January 2027 with regard to contracts on deliveries of LNG (excluding its derivatives) that are valid for more than one year and were signed before June 17, 2025, and if contracts were not changed after that, except for when the only points that were amended deal with a reduction of contracted volumes, a reduction of prices or fines, changes to the confidentiality clause, changes to operating procedures such as the communication procedure, changes of the parties' addresses, a transfer of contractual obligations among affiliated enterprises, and changes due to legal or arbitration procedures.

Such a change in a contract may also be LNG deliveries to landlocked countries, and contract adjustments deal with changes of national delivery points.

According to the Council of the EU's resolution, the EU is also tightening measures against the Russian oil sector.

The 19th package of sanctions envisions toughening the earlier imposed ban on transactions with the Rosneft and Gazprom Neft companies, it said.