The deal phases out all long-term contracts as the bloc seeks full energy independence and aims to cut Moscow’s wartime revenue.

EU lawmakers and member states reached an agreement on Wednesday to end all Russian gas imports before the close of 2027, a major step in the bloc’s effort to sever its remaining energy ties with Moscow.

CBI News reports that EU chief Ursula von der Leyen hailed the accord as “the dawn of a new era” for Europe’s energy independence, while Energy Commissioner Dan Jorgensen said the bloc was “turning off the tap on Russian gas, forever.”

The Kremlin warned the move would hurt Europe’s economy by pushing states toward pricier alternatives.

Under the deal, long-term pipeline contracts will be banned between late September and November 2027, depending on storage levels. Long-term LNG contracts will end on January 1, 2027. Short-term LNG deals will be phased out from April 2026, and short-term pipeline gas from June 2026.

The agreement still requires formal approval by the European Parliament and member states. Companies will be allowed to invoke force majeure to exit existing contracts.

The plan also directs the European Commission to prepare a strategy to end Russian oil deliveries to Hungary and Slovakia by 2027, though Budapest has vowed to challenge the gas ban at the EU’s top court.

Russian gas once supplied 45 percent of EU imports in 2021 but has fallen to 19 percent in 2024.

Despite declining pipeline flows, Russia remained Europe’s second-largest LNG provider last year, accounting for about 20 percent of imports.