One of the principal reasons for this focus of the U.S. and its allies on effectively destroying Russia's ship-borne LNG sector is that it now acts as a key source of revenue for the funding of the war against Ukraine
The US Treasury and State departments ramped up the pressure on Russia ’s critical liquefied natural gas LNG sector again last week, the day before the 24 August commemoration day of Ukraine’s Declaration of Independence in 1991. A slew of new sanctions were introduced targeting individuals, companies, projects, and trading and delivery mechanisms that are vital to Moscow’s LNG operations. This aligns with comments earlier this year from the U.S.
The U.S. and U.K. believed that it was because of this reliance on cheap and abundant gas and oil from Russia that Germany and the E.U. had refrained from punishing Russia through serious sanctions for its invasion of Georgia in 2008 and its invasion and annexation of Ukraine’s Crimea region in 2014, as also detailed in my latest book on the new global oil market order. The U.S.
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