EU sanctions will not ban Russia from profiting off LNG sales
The EU’s 16th sanctions package will not fully ban Russian LNG imports but will block supplies to terminals not connected to the EU gas system, Politico reported on Jan. 29.
The EU’s new sanctions package will include restrictions on Russia’s use of 74 "shadow fleet" vessels and limits on Russian aluminum imports, which account for about 6% of the EU market, diplomats familiar with the negotiations told the publication.
Earlier, 10 EU countries, including Finland, Poland, and the Baltic states, urged the European Commission to ban Russian gas and LNG imports.
Lithuanian Energy Minister Žygimantas Vaičiūnas criticized the rejection of a full ban, calling it "a shame" and expressing disappointment.
He hopes the EU’s new energy "road map" will outline a complete severance of ties with Russia.
In 2024, Russia’s LNG exports to Europe increased by 14-20% compared to 2023, reaching an estimated 17.8 billion cubic meters.
Russia is now the EU’s second-largest LNG supplier, generating about €7.3 billion in revenue from these exports.
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