Giulia Petroni of The Wall Street Journal has reported that the EU just hit Russia with sanctions on LNG shipments. The measure is aimed at making Russia’s gas export activities more difficult, hurting energy revenue. Petroni writes:
The European Union slapped a raft of new sanctions on Russia over its full-scale invasion of Ukraine, targeting the Kremlin’s liquefied natural gas shipments for the first time.
The sanctions package—the 14th since the outbreak of the war in 2022—bans the re-export of Russian LNG shipments destined to third countries through EU ports, covering ship-to-ship and ship-to-shore transfers, as well as re-loading operations.
The measure is aimed at making Russia’s gas export activities more difficult and hitting the country’s energy revenue, but it falls short of restricting imports of Russian LNG, which EU members are still allowed to purchase despite plans to phase out Russian fossil fuels by 2027. […]
Among other measures, the EU prohibited political parties, think tanks and media providers in the bloc from accepting funds coming from Russia or its proxies, and called on EU parent companies to ramp up checks on their third-country subsidiaries to prevent them from circumventing sanctions. It also further restricted the export of helium, chemicals and other equipment that could support Russia’s industrial base.
The EU sanctions come after the U.S. earlier this month set out restrictions on more than 300 entities and individuals in China and elsewhere as it looks to curb Russia’s access to technology and equipment for its war in Ukraine.
Read more here.
