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EU Approves First-Ever Sanctions on Russian LNG in 14th Package Since February 2022

Jun 20, 2024, 08:48 AM

The European Union has approved its first-ever sanctions on Russian liquefied natural gas (LNG) as part of a comprehensive 14th package of sanctions against Russia. This package, aimed at responding to Russian aggression against Ukraine, includes measures to ban the reloading of Russian LNG in the EU for delivery to third countries and prohibits investment in new Russian LNG supply. Notably, there is no direct ban on importing Russian LNG. The sanctions also target Russia's shadow fleet of tankers and companies in third countries, including China, that have been assisting the Kremlin. Despite initial resistance from Germany, the package was approved by EU ambassadors, who emphasized that it includes new targeted measures and maximizes the impact of existing sanctions by closing loopholes. The Belgian EU Presidency announced the approval, noting the sanctions are part of ongoing efforts since February 2022.