The European Union (EU) aims to reduce its dependence on Russian oil and gas by two-thirds by the end of the year and to zero by the end of 2027, the bloc's Economic Commissioner Paolo Gentiloni told Il Messaggero daily in an interview published on Tuesday.

Gentiloni also told the paper that the EU would cut its own growth estimates for 2022 from a previous target of 4 percent, adding however that it is too early to say the slowdown will lead to stagnation.

EU will release its Spring Forecast on May 16.