According to a report from the Financial Association on January 26, the European Council officially passed a resolution banning Russian natural gas on local time January 26. According to the plan, the EU will implement the blockade in phases: starting from January 1, 2027, all imports of Russian liquefied natural gas will be completely stopped; immediately thereafter, on September 30, 2027, all imports of Russian pipeline gas will be completely banned. EU officials stated that existing contracts will benefit from a transitional buffer period, but each member state must strictly verify the country of origin before authorizing natural gas entry. In addition, EU countries must develop practical plans by March 1, 2026, to diversify gas supply and secure alternative suppliers to Russian natural gas. Penalties for violations are also quite severe; those who do not comply with the new regulations may face a maximum fine of at least 2,500,000 euros for individuals, while the maximum fine for enterprises could reach 40,000,000 euros.