EU Council Imposes Millions in Fines for Russian Gas Imports Starting 2027

The European Union Council has imposed fines for violations of the import ban on Russian gas, effective from 2027. According to the organization's press service, the penalty for European companies will amount to 300% of the transaction value or 3.5% of the company's annual turnover.

For violations regarding the import of gas from Russia, the fine will not be less than €2.5 million for individuals and at least €40 million for companies. By March 1, EU member states are required to prepare gas diversification plans and identify potential issues related to replacing Russian fuel, as stated in the document.

Today, the EU Council has approved a comprehensive plan for the complete ban on imports of liquefied natural gas (LNG) from Russia starting in 2027. The fuel import ban will take effect from September 30, 2027. According to the document, the EU may extend the timeline for using Russian gas until the end of October 2027 in exceptional cases. Slovakia and Hungary have expressed opposition to the initiative.