Overview

• Commission President Ursula von der Leyen presented the EU’s 19th sanctions package, which would move a ban on Russian liquefied natural gas up to January 1, 2027, one year earlier than planned.
• The plan also targets refineries, oil traders and petrochemical companies in third countries such as China to curb revenues feeding Russia’s war economy.
• Council negotiations are expected to start this week, and unanimity is required, with Hungary and Slovakia cited as potential holdouts due to their reliance on Russian energy.
• Industry representatives warn of higher prices and supply risks without clear replacement strategies, noting that U.S. LNG could replace volumes at a higher cost.
• Russia still supplied about 19% of EU gas in 2024 largely via LNG, with shipments flowing through Belgium, France and Spain, and Germany’s SEFE reportedly planning around 50 Russian LNG deliveries this year worth roughly €2 billion.