LONDON - The European Union is currently debating how and when to halt its significant energy imports from Russia. While Europe has sharply reduced its purchases of Russian oil and gas since 2022, it remains a significant importer. The EU aggressively reduced Russian oil imports, imposing a ban, with some exceptions, in 2023. Russia's share in EU oil imports has dropped from 29% in early 2021 to 2% in the second quarter of 2025, according to official data. SENDING A MESSAGEEurope’s dependence on Russian energy imports spans decades.