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EU Aims to Cut Russian Energy Reliance by 2027

10/15/2025

Summary

Story summary

The EU, U.K., and G7 imposed a $60 per barrel price cap on Russian crude oil in December 2022 to limit funding for Russia's war in Ukraine.
Despite a 78% drop in EU gas imports from Russia since late 2021, the bloc has spent €214 billion on Russian fossil fuels since 2022.
As of August 2025, Turkey became the largest buyer of Russian oil products, while India and China continue to import significant amounts.
The EU aims for a total ban on Russian liquefied natural gas (LNG) by January 2027 as part of its sanctions to reduce reliance on Russian energy sources.

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Story summary

The EU, U.K., and G7 imposed a $60 per barrel price cap on Russian crude oil in December 2022 to limit funding for Russia's war in Ukraine.
Despite a 78% drop in EU gas imports from Russia since late 2021, the bloc has spent €214 billion on Russian fossil fuels since 2022.
As of August 2025, Turkey became the largest buyer of Russian oil products, while India and China continue to import significant amounts.
The EU aims for a total ban on Russian liquefied natural gas (LNG) by January 2027 as part of its sanctions to reduce reliance on Russian energy sources.