LNG
The EU is unlikely to propose phasing out Russian LNG as part of a new package of sanctions targeting Moscow for its invasion of Ukraine, sources told Bloomberg.
- The bloc will rely on a roadmap planned for next month to find a way to end imports of Russian fossil fuels.
- A group of 10 EU members is pushing to toughen measures against Russia by introducing restrictions on natural gas and LNG. However, sanctions would require unanimity, which would be difficult given opposition from Hungary.
- Russian LNG remains one of the Europe’s last major energy dependencies on Russia, with the EU bringing in record volumes of Russian LNG in 2024.
- EU politicians have avoided calling for further restrictions in fear of pushing up prices in the region.
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