russian fossil fuels Archives - Balancing Energy

Hungary criticizes EU plan to end Russian energy imports by 2027

Hungarian Foreign Minister Péter Szijjártó has strongly opposed the European Commission’s newly unveiled plan to phase out all imports of Russian gas, oil and nuclear fuel by the end of 2027. The proposed strategy, aimed at eliminating the EU’s dependency on Russian energy, has sparked backlash from Budapest, which relies heavily on Russian supplies. Szijjártó […]

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Europe: EU plans legal path to end Russian gas contracts without penalties

The European Union is developing legal measures that would allow companies to terminate long-term contracts for Russian gas without facing penalties, citing force majeure. This move is part of the EU’s broader strategy to eliminate its reliance on Russian fossil fuels by 2027. European Commission President Ursula von der Leyen announced that the Commission will

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EU gas reduction exceeded targets

The REPowerEU policy has done well so far in its aim of ending Europe’s dependency on Russian fossil fuels by 2027. The target of a 15% reduction in gas use, compared to the average consumption between April 2017 and March 2022, was exceeded in both 2023 and 2024. The Commission has again set the same

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