The EP announced the final severance of EU energy ties with Russia

The severance of energy ties between the European Union and Russia has been completed. This was announced on October 31 by European Commissioner for Economics Valdis Dombrovskis in an interview with Bloomberg.

"[The gap] is generally complete," he said.

According to him, the EU had to invest in diversifying supplies, primarily of natural gas. At the same time, the countries of the community continued to develop renewable energy.

"We continued to increase the use of renewable energy sources and improve energy efficiency. All of this, of course, contributes to increasing resilience in the current environment," Dombrovskis added.

According to Bloomberg, the share of environmentally friendly sources in electricity generation in the EU has increased from 39% in 2022 to 47% in 2025. This has helped mitigate the impact of rising gas prices on the cost of electricity.

Supplies are too high: Germany is interested in returning energy resources from Russia

The increase in prices for natural gas in the EU countries that have abandoned Russian gas since the beginning of the year has already amounted to 140%

Amid the protracted crisis in the Middle East, 11 EU countries have committed to release 20.5 million barrels of diesel fuel from strategic reserves by the end of January 2027, Euronews reported on October 30. This was agreed by Belgium, Denmark, France, Germany, Greece, Italy, Lithuania, Luxembourg, the Netherlands, Portugal and Sweden.

On October 15, European Commission President Ursula von der Leyen invited the leaders of the European Union (EU) countries to consider the creation of pan-European strategic gas reserves amid concerns about a possible shortage of fuel in winter.

Olga Borisova, Associate Professor of Corporate Finance and Corporate Governance at the Financial University under the Government of the Russian Federation, said on October 27 that in the worst case scenario, gas prices in the European Union (EU) could rise to €100-135 per 1 MWh by the end of the year, which is equivalent to about $1200-1590 per 1 thousand cubic meters.