On October 22, it is reported that EU member states support the proposal to gradually stop importing Russian natural gas by January 2028. Starting from January 1, 2026, the European Union prohibits internal parties from signing new natural gas import contracts with Russia; The current short-term contract can last until June 17, 2026, while the long-term contract will terminate before January 1, 2028.
EU member states support the proposal to gradually stop importing Russian natural gas by January 2028, which will significantly reduce the supply of natural gas to the EU market. Russia is a major natural gas supplier in the world, and the implementation of policies will lead to a contraction in supply. In the short term, spot prices may rise due to supply-demand imbalances. On the demand side, the EU needs to turn to other sources (such as LNG or alternative energy), but the rising costs and supply uncertainty during the transition period have strengthened the favorable price factors. Overall, this is a significant positive event.
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