The EU aims to reduce its Russian gas imports by two-thirds by the year's end.

• The 27-member bloc has faced criticism for its dependence on Russia for energy, particularly after Russia's attack on Ukraine.
• In 2021, approximately 45% of the EU's gas imports came from the country, as stated by the International Energy Agency.
• In 2020, the region's statistics office stated that Russian oil imports made up approximately 25% of the bloc's crude purchases.

The European Union unveiled a new plan to decrease its reliance on Russian energy sources on Tuesday, in response to Moscow's invasion of Ukraine, soaring prices, and the possibility of an embargo on Russian crude oil.

The European Commission, the executive body of the EU, aims to stop purchasing fossil fuels from Russia by 2030 and has pledged to reduce its Russian gas purchases by two-thirds before the end of the year.

The commission stated on Tuesday that diversifying suppliers, increasing renewable hydrogen production, and enhancing energy efficiency in households would be achieved through various measures.

The 27-member bloc has faced criticism for its dependence on Russia for energy, particularly after Moscow's attack on Ukraine.

In 2021, the EU imported approximately 45% of its gas from the country, according to the International Energy Agency. In 2020, Russian oil imports accounted for roughly 25% of the bloc's crude purchases, according to the region's statistics office.

The commission stated that we could gradually remove at least 155 billion cubic meters of fossil gas use, which is equivalent to the volume imported from Russia in 2021. Nearly two-thirds of that reduction can be achieved within a year, ending the EU’s overdependence on a single supplier.

The commission has updated its plan, requiring EU nations to maintain gas storage levels of at least 90% by October 1st each year. Additionally, the institution has stated that state aid rules may be eased to assist companies facing high energy costs.

To address the effects of increasing energy costs, diversify our gas sources for the upcoming winter, and speed up the transition to clean energy, Ursula von der Leyen, president of the European Commission, made a statement, echoing the comments of the EU's energy commissioner, Kadri Simson, to CNBC last week.

Energy sanctions

The pressure to ban Russian oil and natural gas imports in the EU is increasing, leading to discussions about energy dependency.

While U.S. lawmakers are drafting legislation to halt the purchase of Russian crude in response to the Ukraine invasion, several EU countries, particularly Germany, are apprehensive that doing so would lead to a severe economic crisis.

Olaf Scholz, the German Chancellor, stated on Monday that securing energy supply to Europe is currently impossible through any other means.

Budapest will not support any measure that endangers Hungary's energy security, as stated by Hungary's government spokesperson, Zoltan Kovacs, on Monday via Twitter.

Edgars Rinkevics, foreign minister of Latvia, told CNBC's Steve Sedgwick on Tuesday that criticism of the EU's dependence on Russian energy is justified.

“We are now rectifying whatever we can,” he said.

An EU official, who wished to remain anonymous due to the sensitive nature of the discussion, informed CNBC on Monday that there is currently no consensus among the 27 nations regarding energy sanctions against Russia. However, the source stated that this decision will ultimately be left to individual national governments to make, meaning that different EU capitals may take actions independently without requiring unanimity across the bloc.

On Thursday, at a summit in France, EU leaders will discuss becoming less reliant on Russian energy and possibly imposing additional sanctions on Russia.