(Investing)– The European Parliament voted on Wednesday to approve the European Union’s plan to phase out Russian gas imports by late 2027.
The approval marks a significant step forward for the initiative, which now faces just one remaining legal hurdle before becoming law.
The Russian gas ban still requires formal approval from EU countries’ ministers, with that vote expected to take place in early 2025.
Once fully approved, the legislation would establish a timeline for EU member states to end their reliance on Russian natural gas supplies within the next two years.
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