EU Seeks to Cut Energy Ties With Moscow Through Ban on Gas Deals

Gas prices rose after the European Union gave its strongest signal yet that it’s serious about ending five decades of reliance on Russian energy.

The European Commission, the bloc’s executive branch, unveiled a roadmap to finally switch off the remaining flows of Russian gas, nuclear fuel and oil, more than three years after President Vladimir Putin’s full-scale invasion of Ukraine. As Bloomberg reported on Monday, the plan would see European companies terminate all their contracts with Russian gas suppliers by the end of 2027.