The European Union (EU) is studying 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 a roadmap for ridding the bloc of Russian fossil fuels by 2027.
“Brussels is studying 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 the contracts and the possibility of declaring force majeure, which would subsequently allow importers to refuse 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 “would undermine the whole idea.”
The FT emphasized that the discussion of such a step serves as an example of the EU’s struggle to “wean off Russian energy resources.”
Reuters reported the day before that European producers had allowed a return to gas from Russia due to the policies 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 supply volumes of 60 billion cubic meters per year or 70 billion cubic meters, including LNG.
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