Brussels is considering legal avenues for European firms to exit long-term Russian gas contracts without incurring penalties, as the EU aims to reduce reliance on Russian energy amid the Ukraine conflict. The European Commission is assessing the possibility of declaring force majeure to facilitate this exit, although challenges arise from member states like Hungary and Slovakia, which are resistant to sanctions. The Commission’s roadmap to eliminate Russian fossil fuels by 2027 has faced delays, with calls for tariffs instead of a complete ban to generate revenue and maintain competitive pricing.
Loading PerspectiveSplit analysis...
