European Commission Plans to Vet Gas and Energy Contracts and Its Approach to Russian Suppliers

A proposal to grant the European Commission a role in vetting gas supply contracts across the EU has been met with fierce resistance from the member states. The current proposal is another element of the EU’s broader initiative to create an “energy union,” as recommended by the Commission in its framework strategy in late February this year and initially approved on Thursday, March 19, 2015 to lower prices and improve the security of its gas and electricity supplies. The latest draft proposal suggests involving the Commission in all agreements with external suppliers that may affect EU energy security.