FT announced that the EU is exploring the possibility of terminating contracts for the supply of gas from the Russian Federation

The European Union (EU) is exploring legal options for terminating contracts for the supply of Russian gas without paying fines. This was reported on April 15 by the Financial Times (FT) newspaper, citing sources among European officials.

It is specified that this issue is being studied as part of the roadmap for ridding the block of Russian fossil fuels by 2027.

"Brussels is exploring legal options that would allow European companies to terminate long-term contracts for the supply of Russian gas without paying large fines to Moscow," the article says.

According to three officials familiar with the situation, the European Commission (EC) is currently studying contracts and the possibility of declaring force majeure, which will subsequently allow importers to waive obligations without paying additional fees. One of the sources clarified that if the idea is to avoid paying a penalty to Moscow, then paying compensation "will undermine the whole idea."

The FT stressed that the discussion of such a step serves as an example of the European Union's struggle to "wean off Russian energy resources."

Fuel bug: The EU may reconsider its position of rejecting gas from the Russian Federation

The European Commission has already postponed the publication of the roadmap for the final cessation of supplies from Russia.

The Reuters news agency reported yesterday that European producers allowed a return to gas from Russia due to the policy of US President Donald Trump. Didier Ollo, executive vice president of the French energy and gas company Engie, said that in the event of a peaceful settlement of the conflict in Ukraine, the Europeans could return to the supply volumes of 60 billion cubic meters. m per year or 70 billion cubic meters, including LNG.

Earlier, on March 17, Igor Yushkov, an expert and lecturer at the Financial University under the Government of the Russian Federation, predicted an increase in gas prices in Europe in an interview with Izvestia in the event of abandonment of Russian LNG. According to him, in order to replace Russian gas, Europe will have to reorient supplies from Qatar, which is currently sending its fuel to Asia.