Europe to Cut Off Russian Energy Supplies
The European Union (EU) has officially agreed to end Russian oil and gas imports by January 2028. The phase-out plan begins in January 2026 with the avoidance of new contracts, followed by the cancellation of short-term deals in June 2026, and long-term contracts ending by January 2028. This major EU decision aims to weaken Russia amid the ongoing Ukraine war. Countries like Hungary, France, and Belgium, major consumers of Russian energy, will have their interests considered during this transition. The EU is also exploring new sanctions against Russia to reinforce pressure.
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