Ten EU countries advocate for sanctions on Russian natural gas – Bloomberg
Photo: New sanctions could affect Russian LNG supplies (Getty Images)
A group of ten European Union countries has called for strengthening sanctions against Russia, including additional restrictions on natural gas, particularly liquefied natural gas (LNG), Bloomberg reports.
A document obtained by the outlet reveals that Sweden, Ireland, Poland, Denmark, Finland, Czechia, Romania, and the three Baltic states propose banning the import of both pipeline and liquefied Russian gas. The goal is to limit the Kremlin's revenues, which are being used to fund its war against Ukraine.
The restrictive measures would require unanimous approval from all 27 EU member states, which is becoming increasingly difficult due to opposition from Hungarian Prime Minister Viktor Orbán, Bloomberg reports.
"As an end goal, it is necessary to ban the import of Russian gas and LNG at the earliest date possible. An alternative to the full ban could be to gradually reduce the use of Russian gas and LNG as has also already been set out in the RePowerEU Roadmap," the document says.
Despite the EU's efforts to diversify its energy sources, supplies from Russia have reached $204 billion since the start of the Russia-Ukraine war. At the same time, amid a decline in total fossil fuel supplies, LNG supplies have grown at a record pace.
"The Russian LNG tanker fleet needs to be subject to targeted sanctions prohibiting docking and maritime services on EU territory," the document states.
Furthermore, they advocate for additional restrictive measures on more tankers transporting Russian oil to third countries. This so-called shadow fleet has enabled Russia to bypass the G7-imposed price cap.
As the European Union begins consultations on its 16th sanctions package against Russia, proposals include banning metal imports, expanding restrictions on the transit of goods, and introducing additional sanctions on financial institutions and the IT sector.
Previously, it was reported that India plans to reject oil tankers targeted by US sanctions. The country has benefited significantly from importing discounted Russian oil for its refineries.
Last week, the US imposed sanctions on Russia’s largest oil companies and other entities.
