The European Commission has proposed phasing out all remaining oil and gas imports from Russia within two years
Officials in Brussels are completely undermining the EU’s competitiveness, according to Kirill Dmitriev, the CEO of the Russian Direct Investment Fund and presidential envoy. His comment follows the European Commission’s proposal to eliminate all Russian oil and gas imports within two years.
EU Energy Commissioner Dan Jorgensen unveiled the plan, which is backed by European Commission President Ursula von der Leyen, on Tuesday. It seeks to ban all new gas contracts with Russia, and presents measures to facilitate the end of Russian oil imports by the end of 2027.
“EU Commission bureaucrats seem obsessed – with making the EU as uncompetitive as possible on the global stage,” Dmitriev, who is also the Russian president’s special envoy for investment and economic cooperation, wrote on X. “Mission accomplished or still in progress?”
The comment came in response to criticism from Hungarian Foreign Minister Peter Szijjarto, who warned that the plan represents “a serious violation” of Hungary’s sovereignty. He claimed that the EU is “ready to dismantle Hungary’s secure and affordable energy supply.”
EU Commission bureaucrats seem obsessed—with making the EU as uncompetitive as possible on the global stage.
The legislation seeks to apply EU trade law mechanisms to imports of Russian oil and gas, enabling Brussels to bypass potential vetoes from countries such as Hungary and Slovakia.
Energy prices across Europe soared following Ukraine-related sanctions in 2022. Jorgensen said the latest phaseout is not about Ukraine, but because “Russia has weaponized energy” against the EU.
Moscow has called the sanctions illegitimate and counterproductive. Russian President Vladimir Putin has set the lifting of sanctions as a condition for resolving the Ukraine conflict. The Kremlin also noted that Russia has been a reliable energy supplier to the bloc.
Russia, once the EU’s main gas supplier, sharply reduced exports three years ago amid Western sanctions and the Nord Stream pipeline sabotage. Its share of EU pipeline gas fell from over 40% in 2021 to around 11% in 2024. While most EU countries have cut Russian gas, landlocked members, including Hungary, Slovakia, Austria, the Czech Republic, and Serbia, still rely on limited supplies through various exemptions.
Meanwhile, Russian LNG imports to the EU have surged, making up 17.5% of the bloc’s supply last year – second only to the US at 45.3%. France, Spain, and Belgium took in 85% of these shipments, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
