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Oil and LNG Tankers Included in Latest EU Sanctions on Russia

ENERGY

The EU will place sanctions on 27 vessels, including 19 oil and LNG tankers, as part of the 14th package of sanctions against Russia., according to Reuters sources.

  • The full details of the sanctions including a ban on trans-shipments of Russian LNG off EU ports will be published later in the EU's Official Journal.
  • The latest sanctioned tankers include two Russian floating gas storage units (FSU), the Saam and Koryak, and vessels run by state-owned Sovcomflot.
  • The two ships owned by Novatek which are already under US sanctions were meant for trans-shipping LNG from its new Arctic LNG 2 project.
  • The sanctions could complicate Russia's LNG growth aims but may not be immediate with vessels already operating around western restrictions.
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