Overview
- EU institutions agreed to end Russian gas imports by the close of 2027, and an EU lawmaker said supply security should hold with a stable price outlook.
- Hungary and Slovakia announced plans to challenge the measure at the EU Court of Justice once it is finalized, citing energy security concerns.
- The European Commission will present next year a plan to phase out oil imports into Hungary and Slovakia by the same 2027 deadline.
- Turkey cut November arrivals of Russia’s Urals crude by about 100,000 barrels per day, Kpler data show, and aims to lower Russian gas’s share from roughly 40% to 25% with more US LNG and new sourcing.
- New US sanctions on Lukoil and Rosneft have prompted major buyers, including India, China and Turkey, to seek alternatives to Russian energy, adding pressure on Moscow’s export revenues.