EU's Progress in Phasing Out Russian Fossil Fuels

The European Union (EU) is making progress towards phasing out Russian fossil fuels, with a target of reaching 40-45 billion cubic meters in 2023. However, imports of Russian gas are expected to drop to 40-45 billion cubic meters this year. The EU has implemented sanctions on Russian coal and seaborne oil imports, leading to an increase in imports from other suppliers and a reduction in gas use. Norway has become the EU's biggest pipeline gas supplier, and LNG imports have surged. However, the EU faces challenges in reducing its reliance on Russian LNG, as it remains the bloc's biggest customer for Russian LNG after the U.S. The fear of a repeat energy crisis in Europe hinders the EU's goal to eliminate its consumption of Russian fossil fuels by 2027.