The European Union is considering a ban on re-export of LNG from Russia to other countries through European ports as part of the 14th package of sanctions against Russia, but Brussels has no plans to restrict the countries of the political and economic union for domestic use. This was reported by Bloomberg news agency citing sources.
According to Bloomberg, the European Union is considering introducing a ban on re-exporting LNG from Russia to other countries through European ports as part of the 14th package of anti-Russian sanctions. However, the agency emphasised that Brussels does not plan to restrict in this matter EU countries that buy Russian liquefied natural gas for domestic use.
The material notes that Brussels also intends to introduce point bans against Russian LNG projects. For example, liquefied natural gas terminals in Murmansk, Ust-Luga and “Arctic LNG – 2”. The agency stressed that the development of the sanctions package is still “at an early stage and several EU countries are sceptical about restrictions against LNG”.
“The aim of the sanctions will be to hit the Russian LNG supply chain and Russia’s profits from these projects. <…> Under the plan, ports in EU countries would be banned from importing Russian LNG for further re-export to third countries. But there will be no ban on LNG purchases for its use inside the EU,” Bloomberg reported.
The agency added that the new EU sanctions package will also target Russia’s tanker fleet in an attempt to restore the de facto non-functioning “oil price ceiling”.
In addition, Bloomberg recalled that Russia sends substantial volumes of liquefied natural gas to the countries of the political-economic association – practically 18 billion cubic metres a year. The main importers of Russian LNG are Spain, Belgium and France, with 1 billion of this volume further sent to third countries.
Earlier, Russian President Vladimir Putin said that despite all the economic pressure from the collective West, positive trends in the Russian economy are only strengthening.