EU adopts 14th sanctions package against Russia, targeting LNG sector
European Union member states have formally endorsed the latest sanctions package against Russia. As announced last week, the Russian LNG sector will now be targeted. European ports such as Zeebrugge will no longer be allowed to transship LNG from Russia, following a nine-month transition period.
Member state ambassadors had already reached an agreement in principle on the 14th sanctions package on Thursday. Now that the package has been approved by Foreign Affairs ministers, the details have been announced.
There will be a transit ban in Europe for Russian LNG, while gas terminals on EU territory that are not connected to the European gas pipeline network will no longer be allowed to import LNG from Russia. Investments in and exports to Russian LNG projects under construction will be banned. The measures stop short of an EU ban on LNG imports.
For the first time, Europe’s sanctions also target 27 specific vessels that “contribute” to the war in Ukraine, for example because they carry military equipment or transport stolen Ukrainian grain or Russian LNG.
The transhipment terminal in Zeebrugge is one of the main access points for LNG in Europe. In 2023, more than half of all LNG arriving in Zeebrugge came from Russia.
The package adds 69 new individuals and 47 entities to the European sanctions list, which now has more than 2,200 names. It also strengthens financial sanctions against Russia by banning European banks from continuing to use the SPFS messaging service, the Russian equivalent of SWIFT, which the Russian Central Bank had set up to circumvent previous sanctions.
“Our sanctions have already significantly weakened the Russian economy and prevented Putin from accomplishing his plans to destroy Ukraine, although he still continues the illegal aggression targeting civilians and civilian infrastructure,” said Josep Borrell, the EU’s High Representative for Foreign Affairs and Security Policy, in a statement.
“The 14th package of sanctions demonstrates our unity in supporting Ukraine and seeking to limit Russia’s criminal activities against Ukrainians, including efforts to circumvent EU measures.”
#FlandersNewsService | The ice-breaking LNG tanker Boris Vilkitsky in the port of Zeebrugge © PHOTO DIEBILDWERFT
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