EU Implements First Sanctions on Russian Gas with 14th Package
New measures target Russian LNG re-exports and shadow fleet operations, aiming to curb Moscow's energy revenues.
- Sanctions ban re-exports of Russian LNG through EU ports, affecting about 10% of Russia's total LNG exports.
- The package includes measures to restrict financing for Russia's Arctic and Baltic LNG projects.
- Germany and Hungary initially opposed the package, leading to a month-long negotiation process.
- Additional sanctions target Russia's shadow fleet and dual-use technologies to prevent military use.
- The EU aims to further limit Russia's access to key technologies and financial networks.
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