The EU unveils a long-promised plan to phase out its last gas imports from Russia by the end of 2027, a challenge given Europe's continued dependence on Russian fossil fuels. The two-step plan would put an end to new contracts and existing short-term spot contracts with Russian suppliers by the end of 2025. All remaining imports would be banned by the end of 2027.
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00:00Last year, we in the EU paid 23 billion euros to Russia for our energy imports.
00:11That's 1.8 billion per month.
00:16This needs to stop.
00:20We ban all imports of Russian gas under new contracts and existing spot contracts,
00:26taking effect as of the end of this year.
00:32We ban remaining imports of Russian pipeline gas and LNG under existing long-term contracts by the end of 2027.
00:42And by the end of 2027, we will be completely free from Russian gas.