EU Presses for New Sanctions on Russian LNG Amid Ukraine Conflict

BRUSSELS, Sep 19 (AP) — The European Union is urged to implement new sanctions against Russia, targeting its liquefied natural gas (LNG) exports, its fleet of old oil tankers, and major energy firms, in response to the ongoing conflict in Ukraine, said Ursula von der Leyen, the European Commission President, on Friday.

“It is time to turn off the tap” on LNG, von der Leyen emphasized in a video statement outlining the commission’s new sanctions plan, which requires approval from all 27 EU nations to be enforced.

“I now call on member states to quickly endorse these new sanctions. We want Russia to leave the battlefield and come to the negotiation table, and this is the way to give peace a real chance,” she urged.

The EU has previously adopted 18 sanctions packages against Russia, yet final agreements on the targets can take weeks. More than 2,500 entities, including banks, ministries, energy companies, and officials, have already faced sanctions.

The list of sanctioned officials includes President Vladimir Putin, his associates, numerous Russian lawmakers, and several oligarchs, with travel bans and asset freezes being the most commonly applied measures.

Energy revenues are critical to Russia's economy, enabling Putin to finance the military without exacerbating inflation or causing a currency crisis.

Von der Leyen affirmed the impact of EU sanctions, stating, “Russia’s overheated war economy is coming to its limit,” and highlighting ongoing high inflation in Russia.

Separately, EU foreign policy chief Kaja Kallas announced the goal to implement “a full prohibition of Russian LNG imports by January 2027,” with Europe being the largest buyer, accounting for about half of Russia's LNG shipments.

Russian LNG constituted around 16% of the EU’s total LNG imports last year. Hungary and Slovakia, EU members opposing a phase-out, could block the sanctions initiative.

The commission proposed adding 118 more Russian vessels to its list of sanctioned ships transporting oil, totaling over 560 affected ships.

“Major energy trading companies Rosneft and Gazprom Neft will now be on a full transaction ban, and other companies will also come under an asset freeze,” stated von der Leyen, contingent on measure approval.

The plan aims to target those breaching sanctions by buying Russian oil, pursuing entities like refineries, oil traders, petrochemical companies, and even countries such as China.

Sanctions would also restrict exports of items and technologies for battlefield use. An additional 45 companies, in Russia and elsewhere, involved in supporting the Russian military industrial complex, would be sanctioned.

Kallas proposed measures to address individuals involved in abducting Ukrainian children. Russia faces condemnation for deporting Ukrainian families, especially children, since 2022.

“Tearing children from their families and deporting them to re-education camps is beyond description. We will not let Russia weaponise childhood itself,” Kallas declared on social media. (AP)

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