EU discusses return to gas purchases from Russia – Financial Times

European officials have started discussing the idea of returning to gas purchases from Russia as part of a potential settlement of the war in Ukraine.

As reported by Financial Times, supporters of buying Russian gas claim that it will reduce high energy prices in Europe, encourage Moscow to come to the negotiating table and give both sides a reason to introduce and maintain a ceasefire.

Three officials said the idea has been endorsed by some German and Hungarian officials, with the support of other capitals that see it as a way to reduce energy costs in Europe.

However, even the discussion on the idea of resuming Russian gas supplies to Europe has already provoked strong reactions from Ukraine's closest allies in the EU.

Officials and diplomats in Eastern European countries, many of whom have been working to reduce Russian energy supplies for the past three years, expressed anger at the idea.

"It’s madness. How stupid could we be to even think about that as an option?"

The renewed discussions about resuming Russian gas supplies have also worried some US LNG exporters looking to sign long-term supply agreements with European companies.

Two officials said they fear that any resumption of Ukrainian transit could make their products uncompetitive.

Another senior official added that "in the end, everybody wants to reduce energy costs".

Earlier, there were reports in the media that the 16th package of sanctions would target Russian aluminium, agricultural products, the shadow fleet of tankers, liquefied natural gas and the banking sector.

At the same time, reports have recently revealed that the EU will not include a complete ban on purchasing Russian liquefied natural gas in the new sanctions package.