EU to demand companies disclose Russian gas deals under 2027 phaseout plan

Reuters reports that under the new rules, companies will have to report the duration of their contracts, volumes purchased, destinations, and dates of signing. The EU also plans to prohibit the signing of new gas contracts with Russian firms as early as the end of 2025.

"The implementation of the measures - as designed in the proposal - requires comprehensive and systematic information about the existing contracts for Russian gas, including specific contractual arrangements," the document said.

In addition, gas importers will be obliged to disclose the origin of their gas to ensure it does not come from Russia. This is intended to help EU customs and energy authorities enforce the new restrictions more effectively. "Except for cases where gas can clearly be considered as of Russian origin, the proposal requires importers to present documentation to the customs authorities about the origin of the imported gas," the plan says.

The proposals also cover EU LNG terminals, which will be barred from offering services to Russian clients starting January 1, 2026. For existing short-term contracts, the grace period will extend until June 17, 2026, while long-term deals will be allowed until December 31, 2027.

• In 2024, the European Union paid €23 billion for Russian energy resources, despite a significant reduction in their consumption.