The EU is discussing the possible resumption of Russian gas supplies – Financial Times

The European Union is discussing the possibility of resuming purchases of Russian pipeline gas as part of a potential peace settlement regarding Ukraine.

This was reported by the Financial Times, citing sources.

Supporters of this idea argue that it would lead to lower energy prices in Europe, encourage Moscow to come to the negotiating table, and provide both sides with a reason to implement and maintain a ceasefire.

In particular, the idea “has been endorsed by some German and Hungarian officials and has also received support from other capitals.” However, it has “angered” officials in Brussels and diplomats from several Eastern European countries.

“This is madness. How stupid can we be even to consider this as an option?” one source stated.

Resuming exports to Europe would significantly increase Moscow’s revenues.

“But the dire situation of heavy industry in the EU has increased the need for European countries to find cheaper energy sources. The cost of gas in Europe is typically three to four times higher than in the U.S.,” FT writes.

It is worth noting that the EU did not include a full ban on Russian LNG imports in its latest sanctions package, despite calls from many advocates of a more decisive approach.