Abstract
The purpose of this research paper is to analyze different options available to the EU Member States regarding the refusal to extend contracts related to energy trade with Russian Federation. In 2022, Russia's unprovoked and unjustified war against Ukraine changed global perspectives. Most importantly, this war has a devastating human toll and also threatens global economy. The energy sector turned out to be the most vulnerable due to sanctions imposed against Russia as a leading exporter of energy resources. These sanctions have created uncertainty about the future of energy trade between Russia and the EU, as well as the reliability of Russian energy supplies. This has highlighted the need for EU to diversify their energy sources and phase out their energy imports from Russia, which has been a longstanding issue. Therefore, it is important to consider the potential economic and political consequences of such a decision.
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