For the first time since the large-scale Russian invasion of Ukraine more than two years ago, the European Union is considering acting against liquefied natural gas (LNG) from Russia, a lucrative business with which the Twenty-seven continue to indirectly finance the war machine. of the Kremlin. The sector is included in the 14th sanctions package prepared by the European Commission, the head of the Energy portfolio, Kadri Simson, confirmed today during a visit to Kyiv. “We have made the decision and have proposed an instrument to limit access of Russian LNG to our energy terminals,” Simson said. The proposal, the content of which is confidential, will be debated on Wednesday by government representatives in Brussels and according to Politico it only prohibits its export from the European Union to third countries, not its import for internal use in order not to endanger national supply at risk.
Although the Twenty-seven have set the goal of completely eliminating fossil fuels from Russia by 2027 and have adopted measures against coal, oil and refined products from this country, so far no action has been taken in the fuel sector. gas or LNG. Spain, according to a report by the Institute of Energy Economics and Financial Analysis (IEEFA) published in February, is the European country that imports the most liquefied natural gas from Russia with 5,210 million cubic meters (bcm) imported. from January to September 2023. France and Belgium follow, where the Zeebrugge regasification plant is located, with 3.19 bcm and 3.14 bcm respectively. At the European level, imports have been increasing since 2022, when the war began, and in some cases its terminals are used to transship or re-export Russian LNG.
The pressure to cut off this source of income for the Kremlin has been increasing but the Spanish Government has demanded that any measure in this regard be taken at the European level. “Our ability to intervene to prohibit the import of Russian LNG does not exist unless we pay the contract that they are obliged to terminate. But there is the capacity to adopt sanctioning measures by the European Union and, in fact, this is an issue that will probably be raised immediately," said the third vice president of the Government and Minister for the Ecological Transition and the Demographic Challenge. “If so, we can intervene by prohibiting these imports,” she stressed.
The 14th package of sanctions against Russia was sent last Friday to the capitals by the European Commission, diplomatic sources confirm. According to the Politico portal, the document emphasizes that the restrictions prevent the re-export of fuel to third countries (an activity that represents a quarter of Russia's total income from LNG sales to the Twenty-Seven) but "does not affect imports." to the EU". Brussels also proposes prohibiting the participation of European companies in LNG projects promoted by Moscow, so as to prevent it from increasing the capacity of its network and therefore its income.
Although the idea of acting against Russian LNG has made its way, Budapest has to date opposed all measures that will affect Russian gas, but the Belgian presidency of the Council, which is in charge this semester, will try to move forward. the 14th sanctions package in the coming weeks. Hungary, the only EU country that has not severed ties with Russia despite the invasion of Ukraine, will assume the rotating presidency of the EU Council on July 1 and from that date it is not expected to be possible to approve new initiatives in this sense. The European Commission's proposal also includes sanctions against dozens of companies that are accused of helping Russia evade the Twenty-Seven sanctions, especially with respect to the transport and trade of oil.
