The European Union discusses the possibility of restoring the supply of Russian gas as part of a potential decision to end Russia's war against Ukraine, Financial Times (FT) reports, referring to sources in Brussels. This idea has been supported by some European officials, in particular from Germany and Hungary, which will help reduce energy prices in Europe and create conditions for negotiation with Moscow to ceasefire.
Proponents of this proposal claim that restoring gas supply can help reduce energy costs in the EU, but this solution causes a lot of outrage among Brussels officials and representatives of Eastern European countries. They are actively working on reducing the dependence of Russian gas, and one of the officials described such a proposal as "madness".
We will remind, before the start of the full -scale war of Russia against Ukraine the supply of Russian gas was about 40% of the total volume of gas imports to the EU, with Germany the largest importer. However, the restoration of Russian gas transit can significantly increase Moscow's revenues, which is a concern among US LNG exporters who are afraid to lose competitiveness in the European market.
The EU plans to completely free its energy system from Russian fossil fuels by 2027. The EU Energy Commissioner Dan Jorgensen must present the relevant plan in March 2025. However, high gas prices are forcing European countries to look for cheaper energy sources, which leads to discussions on possible restoration of gas supplies from Russia.
