EU unlikely to sanction Russian LNG, Bloomberg reports

The European Union does not plan to include sanctions on Russian liquefied natural gas (LNG) in its upcoming package of restrictions against Moscow, expected in February.

Instead, the EU is focusing on a roadmap aimed at gradually halting the import of Russian fossil fuels, developed based on an agreement among 10 member states.

However, EU sanctions require unanimous approval, which poses a challenge due to opposition from Hungary and the reliance of some countries on Russian gas.

According to Bloomberg, European policymakers fear that abrupt restrictions could lead to economic difficulties due to potential price shocks in the energy market.

The agency notes that the 27-member bloc aims to finalize its 16th sanctions package against Russia by February 24, with a roadmap for phasing out Russian fossil fuels set to be unveiled on February 26.

Previously, Bloomberg reported that the EU is considering gradually imposing restrictions on imports of Russian LNG and aluminum.

However, Ukraine's Presidential Commissioner for Sanctions Policy, Vladyslav Vlasiuk, stated that sanctions on Russian LNG may not be included in the EU's 16th sanctions package. Instead, he noted that a plan for the gradual reduction of LNG consumption in Europe could be approved.