Over the last 3.5 years EU member states have purchased around €120 billion worth of Russian pipeline and liquefied gas. During the first six months of 2025 countries paid around €4.5 billion for LNG from Russia.
A ban, but not just yet
The latest figures are especially noteworthy in light of the fact that the EU said last week it will stop buying gas from Russia by January 1, 2027.
However, in the meantime European importers and terminal operators appear eager to purchase all the Russian LNG they can get their hands on – a business that has proven highly profitable over the past almost decade since Yamal LNG began operations in December 2017.
Russia remains the second-largest supplier of LNG to Europe, accounting for around 13 percent during the first half of 2025, the new IEEFA data confirm.
Almost four years into the Ukraine War, Russia’s share of overall EU liquefied natural gas imports remains little changed.