Brussels: The Council of the European Union announced today, Monday, its final approval of a ban on imports of Russian liquefied natural gas, starting January 1, 2027, and Russian gas transported via pipelines, starting September 30, 2027, according to a statement published on the Council’s website.

According to National Iraqi News Agency, the 27 EU member states have formally adopted a regulation phasing out pipeline and liquefied natural gas (LNG) imports from Russia. The new rules also include measures for effective monitoring and diversification of energy supplies.

The statement continued, “A complete ban on Russian LNG supplies will begin at the start of 2027, and on pipeline gas imports, starting on September 30, 2027.”

The statement added, “Failure to comply with the new rules could result in maximum fines of at least pound 2.5 million for individuals and at least pound 40 million for companies, or at least 3.5% of the company’s total annual global revenue, or 300% of the estimated revenue for the transaction.”