According to Bloomberg, US President Donald Trump's reproaches to Europe are already having an effect. The EU is currently actively studying the scenario of abandoning Russian liquefied natural gas (LNG) a year earlier than planned - by the beginning of 2027.
Points of attention
- European leaders are taking Trump's demands seriously and are working towards restricting energy trade with Russia, as evident by the approval of a new EU sanctions package against the country.
- Analyzing the potential effects of the EU's shift away from Russian gas imports on European supplies and pricing, amidst the changing dynamics of the global gas market.
EU revises its approach at Trump's request
As anonymous sources have learned, official Brussels is currently analyzing the option of including a provision on the early cessation of Russian LNG imports in the new sanctions package against the Russian Federation.
What is important to understand is that this is much earlier than the end of 2027 envisaged by the RePowerEU plan.
Not long ago, the head of the White House demanded that the European Union do more to restrict energy trade with the aggressor country.
European leaders have taken Trump's demand seriously and are already working in this direction.
The global gas market is expected to start moving into surplus in the second half of next year, reducing the risk that a gradual phasing out of Russian gas could put pressure on European supplies and lead to price spikes.
According to analysts, this plays a major role for the European Union in setting a new date for the phasing out of LNG.
Also on September 19, it officially became known that the European Commission had approved a proposal for a new 19th package of EU sanctions against Russia.
