Europe continues to try to completely abandon gas and oil from the Russian Federation
European countries continue to promote plans to completely abandon Russian energy resources. The Committee of the European Parliament (EP) supported a complete ban on the import of Russian gas and oil, and the UK yesterday expanded sanctions against Russian companies and individuals, as well as imposed a ban on the import of petroleum products produced from Russian oil in third countries. Details can be found in the Izvestia article.
New bans in Europe
On October 16, the relevant Committee of the European Parliament (EP) approved a complete ban on the import of Russian gas and oil. According to the decision of the deputies, short—term contracts will be valid until mid-June 2026, long-term contracts - until January 1, 2027. The next stage will be negotiations between the EP, the Council of the European Union and the European Commission (EC), after which the bill will be put to a plenary vote.
On October 8, EU ambassadors agreed to phase out Russian energy resources by 2028. Almost all the countries of the bloc supported the initiative, despite criticism from Hungary and Slovakia. Negotiations are continuing on technical issues, including control of the origin of liquefied natural gas entering European ports.
France and Italy supported the overall plan, but offered to clarify how supplies would be controlled. The decision reinforces the EU's political commitment to Russia's energy isolation. This step is considered as the first step towards the complete abolition of imports of Russian energy resources at the block level.
On October 15, the United Kingdom imposed sanctions on five individuals and 35 organizations as part of anti-Russian restrictions. In addition, the country has imposed a ban on the import of petroleum products produced in third countries from Russian oil.
How will the restriction affect supplies and contracts
According to Karin Kneissl, former Minister of Foreign Affairs of Austria and head of the St. Petersburg State University's G.O.R.K.L. Center, European countries are still dependent on Russian energy resources at about 20%. The bulk of this volume is accounted for by liquefied natural gas, which is imported through intermediaries. Such measures affect the energy security of the bloc and increase competition for resources with Asian countries.
Political scientists warn about the risks to Europe's industry. Abandoning cheap Russian gas can lead to lower competitiveness and higher costs for enterprises. Without Russian fuel, the energy systems of a number of countries will become vulnerable, and the population will become less well—off.
How does Russia react to new sanctions and bans
Russian Foreign Ministry spokeswoman Maria Zakharova said on October 15 that the Russian economy was developing despite the sanctions. Russia also entered the top three G20 countries with the highest growth rates, ahead of Brazil and Turkey.
The Russian Embassy in London has warned that new UK sanctions could have a boomerang effect. The diplomats stressed that the restrictions would destabilize global energy markets and hit consumers in the UK itself. In addition, the sanctions will negatively affect the energy security of the countries of the Global South, the embassy noted.
Experts emphasize that Europe's actions do not lead to complete energy independence from Russia. Some countries are looking for bypass supply chains through third countries. Political scientists also note that such a policy can contribute to the deindustrialization of the region and an increase in prices for the population.
All important news is on the Izvestia channel in the MAX messenger.
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