The European Union is reportedly drafting a 16th sanctions package against Russia that could include a gradual phase-out of imports of liquefied natural gas (LNG). This comes after a significant increase in EU LNG imports from Russia in recent months. While the EU has stopped importing pipeline gas from Russia, LNG imports have risen to 20% of the bloc's total LNG imports in the first nine months of 2024.
The European Union is drafting the 16th package of sanctions against Russia over its invasion of Ukraine, which could include a gradual ban on EU imports of LNG from Russia, sources with knowledge of plans told Bloomberg on Wednesday. The EU no longer imports pipeline natural gas from Russia via Ukraine, after the latter refused to negotiate an extension to the transit gas deal that expired on December 31, 2024. The EU, however, has significantly boosted imports of Russian LNG in recent months.
In one of the EU's previous packages of sanctions against Russia, the bloc bannedreloading services of Russian LNG in EU territory for the purpose of transshipment operations to third countries, after a transition period of 9 months. This covers both ship-to-ship transfers and ship-to-shore transfers, as well as re-loading operations, and does not affect import but only re-export to third countries via the EU. Now the EU is considering a gradual phase-out from Russia's LNG.
SANCTIONS RUSSIA EUROPEAN UNION LNG ENERGY
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