EU unlikely to include Russian LNG in new sanctions package, Bloomberg reports
www.pravda.com.ua
Fri, 24 Jan 2025 20:56:52 +0200
The European Union is unlikely to propose a gradual phaseout of Russian liquefied natural gas LNG as part of its new sanctions package targeting Russia over its fullscale invasion of Ukraine.
Source Bloomberg, as reported by European Pravda Details Bloomberg reports that EU member states lack consensus on banning Russian LNG imports, which reached record levels in 2024.
For this reason, the EU will rely on a roadmap for a complete phaseout of Russian energy supplies, expected to be presented by late February. While this plan will outline the measures to be taken to stop LNG imports from Russia, detailed EU legislation is likely to be presented at a later stage.
A group of 10 EU countries is calling for sanctions against Russia to be tightened by imposing new restrictions on natural gas and strengthening control over compliance with the existing oil price cap.
Quote However, sanctions by the EU require unanimity, which would be difficult to achieve amid vocal opposition from Hungary and the continued reliance of some other countries on gas from Moscow.
Background The EUs upcoming 16th sanctions package against Russia is expected to target aluminium, agricultural products, the shadow fleet, and Russian banks.
Support UP or become our patron
Latest news
more news