Kremlin says decision to phase out Russian gas will make EU less competitive

MOSCOW, Dec 3 (Reuters) - The Kremlin condemned a decision by the European Union on Wednesday to phase out imports of Russian gas by 2027, saying it would doom Europe to becoming less competitive and would lead to higher prices for consumers.

The agreement will include a legally binding, stepwise prohibition on liquefied natural gas (LNG) and pipeline gas imports from Russia, with full bans applying from the end of 2026 and autumn 2027, respectively.

Russia accounted for 12% of EU gas imports as of October, down from 45% prior to the onset of the war in Ukraine in 2022.