The economist did not rule out a full return of Russian gas to the European market.

Austria intends to resume importing Russian gas, despite the initiatives of the European Commission (EC) to impose a total ban on contracts with Russia. It is possible that other European Union (EU) states will follow Austria, Igbal Guliyev, Deputy director of the MGIMO International Institute of Energy Policy and Diplomacy, Doctor of Economics, told Izvestia on June 17.

Earlier in the day, it was reported that the Austrian Ministry of Energy believes that the EU should be ready to reconsider the refusal to import Russian gas after the settlement of the Ukrainian conflict and be open to its import.

According to the expert, despite the intention of the European Commission to completely ban new contracts for Russian gas supplies and terminate existing ones for two years, Austria has made an unconventional proposal to consider resuming imports. As the economist noted, this is the third such signal from Europe, indicating a pragmatic approach to energy security.

"Austria's decision is logical in the current economic conditions. It shows that, despite the geopolitics, stable energy supply remains a priority for a number of EU countries," Guliyev said.

According to him, if Vienna succeeds in implementing this step, other states may join it, especially from Central and Eastern Europe, which depend on pipeline infrastructure.

"This may lead to a review of the EU's energy security strategy, where economic expediency will once again play a key role," he added.

The return of Russian gas, even partially, can reduce price volatility in Europe, especially during the heating season. However, the final effect will depend on the volume of supplies and new contract terms.

"The trend towards diversification and development of RES (renewable energy. — Ed.) will remain, but Europe can develop a more flexible approach, using Russian gas as an element of the price balance," Guliyev summed up.

Gas intermission: Germany promotes the abandonment of energy resources from the Russian Federation by 2027

At the same time, Berlin continues to purchase Russian LNG.

European Commissioner for Energy Dan Jorgensen said at a press conference following the meeting of EU energy ministers in Luxembourg on June 16 that the EC does not intend to pay compensation to EU countries that are gradually abandoning Russian gas. In addition, the European Commission considers the abandonment of Russian gas as an element of a sustainable energy policy and intends to present on June 17 a new plan providing for a complete ban on gas purchases from Russia by 2027.