The Economist: Amid hopes for peace in Europe, discussions are underway about the resumption of Russian gas supplies.

European officials, amid negotiations for a potential end to the war in Ukraine, are beginning to contemplate the resumption of Russian gas purchases.

Source. This is reported by The Economist.

As the publication notes, some European officials are already "greedily eyeing Russian gas," as lower electricity bills could revitalize the "ailing European industry" and provide relief to households.

According to an analysis by Goldman Sachs, the cessation of the war in Ukraine could boost Europe's GDP by 0.5%—mainly due to cheaper natural gas.

Proponents of this approach also believe that resuming gas purchases from Russia would compel Putin to adhere to agreements reached during negotiations.

In particular, Friedrich Merz, a likely future Chancellor of Germany, does not rule out the possibility of resuming supplies, as emphasized by The Economist.

Financial Times previously reported that discussions about restoring purchases of Russian pipeline gas are already underway. According to the publication's sources, the initiative is supported by officials from Germany, Hungary, and other EU countries.

However, this idea has sparked sharp discontent in Brussels and among representatives of Eastern European states.

"This is madness. How foolish must we be to even consider this as an option?" stated one diplomat, outraged by such plans.

The Economist reminds that the EU is officially aimed at completely phasing out imports of Russian gas and oil by 2027. Supplies through key gas pipelines have already been significantly reduced: "Nord Stream 1" was halted in 2022, and transit through the Ukrainian gas transportation system will cease on January 1, 2025.

Currently, the share of Russian gas in EU imports stands at only 10%, compared to 45% in 2021.

As of February 2025, EU gas storage is only 48% full—compared to 66% a year earlier. High energy prices are forcing major consumers, such as chemical and metallurgical plants, to reduce production.

Industrial production in the EU, already weakened, continues to decline, notes The Economist.

New shipments of liquefied natural gas (LNG) from the US and Qatar are not expected until 2026, limiting Europe's options in the near future. Moreover, gas prices in the summer of 2025 are projected to be higher than in the winter of 2026, making storage economically unfeasible.

Background. Recall that the European Commission is preparing for a complete ban on Russian gas supplies. A roadmap for the EU's total rejection of Russian gas is currently being developed and will be presented soon.