European Commission may reportedly let companies declare force majeure as part of strategy to rid bloc of Russian fossil fuels by 2027
The European Commission is considering plans that would allow European companies to break long-term Russian gas contracts without paying penalties to Moscow, it has been reported.
Citing three officials with knowledge of the plan, the Financial Times reported that the commission was studying the possibility of allowing companies to declare force majeure, which would absolve importers of their obligations to pay penalty fees for ending contracts.
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