The European Commission is preparing to propose a sweeping ban on new Russian gas contracts, aiming to bypass potential vetoes from member states like Hungary and Slovakia by using trade law instead of traditional sanctions mechanisms. According to a summary of the proposal under discussion, the plan would immediately prohibit companies across the European Union from entering into new contracts for Russian natural gas. Existing contracts for pipeline gas and liquefied natural gas (LNG) would have to be terminated by 2026, while longer-term agreements would be phased out completely by January 1, 2028. The proposal, expected to be formally presented on Tuesday, represents a key step in the EU's broader strategy to cut its dependence on Russian fossil fuels following Moscow's full-scale invasion of Ukraine in 2022. Russian gas, once accounting for around 40% of the bloc's gas imports, now represents less than 19%.