EU ports will be prohibited from re-exporting Russian LNG

Also, the European Union is already considering proposals for sanctions against Russian LNG projects.

The EU is discussing proposals for sanctions against key Russian LNG production projects and a ban on the use of EU ports for the re-export of this raw material. This is reported by Bloomberg.

The purpose of the discussions is to hit future revenues from such projects as Arctic LNG 2, the LNG terminal in Ust-Luz and the LNG plant in Murmansk.

According to the plan, ports of EU member states will also be prohibited from accepting Russian shipments, which are then re-exported to third countries. However, there will not yet be a ban on the purchase of fuel for use within the EU.

According to Bloomberg, new measures are being discussed as part of the 14th package of sanctions against the Russian Federation. It is assumed that the restrictions will also apply to the Russian “shadow” fleet and more than a dozen companies that continued to buy sanctioned goods in the EU and supply them to Russia.

Some Russian LNG projects targeted by sanctions already face some restrictions on the equipment used to produce the feedstock. The EU has also introduced measures that will allow certain countries to block gas supplies from Russia.

In addition, EU member states hope to reach an agreement next month on using the proceeds from frozen Russian sovereign assets to support Ukraine.

Earlier, Swedish Foreign Minister Tobias Billström announced the possibility of introducing sanctions against Russian imports of LNG and the so-called shadow fleet.