EU Weighs Sanctions on Russian LNG Projects, Transshipments
- Proposals under consideration fall well short of outright ban
- EU is also weighing sanctions on Russian shadow fleet vessels
The resource base for the Arctic LNG 2 project, in the Gydan Peninsula in the Arctic circle.
Photographer: Natalia Kolesnikova/AFP/Getty ImagesThe European Union is discussing with member states proposals to sanction key Russian liquefied natural gas projects and a ban on using EU ports to re-export supplies destined for third countries, as part of an effort to limit Moscow’s ability to generate revenues from the fossil fuel.
The potential measures are being explored as part of the latest round of sanctions on Russia following its invasion of Ukraine. The goal would be to further hit Russia’s LNG supply supply chain and future revenues at projects like Arctic LNG 2, the UST Luga LNG terminal and the Murmansk plant, according to people familiar with the matter. The US has previously sanctioned some of those projects.