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European countries store Russian gas. Does it bother them that this helps finance the war?

Shelling of Ukrainian cities, and the growing number of casualties. All of this is a picture of the war in Ukraine, whose end is not in sight. European countries on one hand support Ukraine in defensive actions by providing it with essential equipment. On the other hand they also help Russia by buying gas from that country. In recent months, this has started to flow into EU countries in huge quantities. 

 

European countries store Russian gas. Does it bother them that this helps finance the war?
magnific.com, European countries store Russian gas. Does it bother them that this helps finance the war?
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  1. EU countries help Russia
    1. Ban on buying Russian gas

      Although the ban on importing Russian gas into EU countries is set to take effect only in 2027, so far EU states seem to want to build large reserves of this commodity, increasing imports from Russia. According to an analysis by the "Financial Times", in the first half of 2026 alone, imports of Russian liquefied natural gas (LNG) to Europe increased by 18%. The commodity arrives on the Old Continent from the Siberian facility Jamał LNG. Within six months of this year, 9.89 million tonnes of Russian gas were destined for EU countries

       

      EU countries help Russia

      Where money matters, there are no sentiments – that is how one can describe what European countries are doing while Ukraine is still being attacked by Russia. According to "Financial Times" data, the most Russian gas in the first half of 2026 went to France, which bought 3.6 million tonnes of blue fuel. Belgium also made huge purchases – 2.9 million tonnes and Spain – 2.7 million tonnes

      "The Union has been de facto financing war actions against Ukraine by buying Russian hydrocarbons. Although the scale of these purchases is still decreasing, it remains absurd that European money still flows to Russia. In such a situation it is hard to talk about the effectiveness of sanctions imposed on the Kremlin. The starting point is to shift to alternative supply chains," said Maciej Bukowski, head of the Energy and Resilience Program at the Kazimierz Pułaski Foundation, in an interview with FXMAG. 

       

      Ban on buying Russian gas

      The European Union wants to cut off Russian gas, but only from 2027. Until then, the execution of long‑term contracts remains in line with EU law, although its import takes place under different rules than before the full‑scale war. 

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      From 18 March 2026, the REPowerEU regulation came into force in the European Union. These are new rules for importing natural gas into the EU. 

      The European Parliament and Council Regulation 2026/261 introduced a gradual shift away from importing gas from Russia. From that point on it is possible only on the basis of temporary permits, which are issued only for countries that have signed a supply contract for this commodity before 17 June 2025. This is a transitional period, as the regulation also provides for a gradual phasing out of the possibility of issuing such permits. 

      Initially this concerns LNG restrictions, and ultimately it is intended to cover gas transported by pipeline as well. The rules also introduced permits for importing gas produced in other third countries, i.e. outside Russia.  

      A few countries were treated specially. No special permit is required to import gas from them. The list includes: Algeria, Nigeria, Norway, Qatar, the United Kingdom and the United States. 

       

      See also: Poles invented a hybrid engine for the Crab and Borsuk. It is a proposal 75% cheaper than the German one, which Poland used

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      FXMAG Team

      FXMAG Team

      FXMAG’s editorial team creates high-quality content on financial markets, investing, and the global economy. We provide timely analysis and clear insights to help our audience navigate complex market dynamics.


      Topics

      russian gas

      gas import

      REPowerEU

      liquefied gas

      ukraineeuropean unionRussiaLNG
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