EU economic reports and Russian trade data

EU Agrees 14th Sanctions Package Targeting Russian Gas, LNG Shipments, and Shadow Fleet

Jun 20, 2024, 08:22 AM

The European Union has agreed on its 14th package of sanctions against Russia, focusing on Russian natural gas and targeting the country's shadow fleet and transshipments of LNG shipments. This package aims to further restrict Russia's access to key technologies and reduce its energy revenues. The sanctions also include measures against companies in third countries, such as China, that have been helping Russia circumvent previous trade restrictions. Russia netted 3.4 billion euros in revenue from gas passing through EU ports. This decision follows delays caused by Germany, which initially blocked the passage of the sanctions package. The EU's new sanctions are part of its ongoing response to Russia's invasion of Ukraine.