Europe’s Energy Ministers voted to prohibit new gas contracts with Russia from January 2026 and will phase out long-term contracts by the start of 2028. The move comes less than a month after President Trump called out European allies at the United Nations for “funding the war against themselves” by continuing to purchase Russian energy.
Despite efforts to reduce energy imports from Russia in the wake of the 2022 invasion of Ukraine, Russian gas still made up around 13% of EU imports in 2025, an estimated €15 billion ($17.5bn).
But Europe does not have to worry about the lights going out. In the trade deal negotiated with President Trump earlier this year, the EU committed to purchase $750 billion in American energy.
I call that WIN – WIN!