Europe takes a big step toward banning Russian oil and gas as Ukraine war drags on | CNN Business

London CNN  — 

The European Union is moving closer to banning all imports of Russian oil and natural gas more than three years after Moscow launched its unprovoked, full-scale invasion of Ukraine.

The European Commission, the bloc’s executive arm, put forward a legislative proposal Tuesday to gradually ban purchases of Russian natural gas – whether supplied via pipeline or as liquefied natural gas (LNG) on tankers.

Under the plan, no new import contracts will be allowed from next year, while imports under existing short-term contracts for most EU member states will have to stop

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