BRUSSELS: EU lawmakers on Thursday urged the bloc to ban imports of Russian liquefied natural gas and to shut loopholes in existing sanctions that help Moscow fund its war on Ukraine.
The European Union has imposed 11 rounds of unprecedented sanctions on Russia since the Kremlin launched its all-out invasion in February 2022.
Brussels is currently formulating proposals for a fresh package of sanctions, expected to include a ban on Russian diamonds, that diplomats say should be discussed by member states next week.
Several of the more hawkish EU member states in eastern Europe have also called for a ban on LNG in the next sanctions package.
Japan says sanctions on Russia will affect LNG project
But there seems to be little appetite across the bloc to impose a ban that could further roil Europe’s fragile gas markets and push up prices.
In a non-binding resolution, the European Parliament urged the EU to forbid imports of liquefied natural gas and liquefied petroleum gas that have helped swell the Kremlin’s coffers.
“The European Union still remains one of Russia’s largest fossil fuel clients, due to continued imports of pipeline gas and LNG, as well as various exceptions to the ban on importing crude oil and oil products,” a statement said.
The EU has imposed broad embargoes on most Russian oil and gas coming into the bloc.
But campaign group Global Witness said in August the value Russian LNG imports had soared by 40 percent since the invasion, standing at 5.3 billion euros ($5.6 billion) for the first seven months of 2023.
Lawmakers also called on the G7 – of which the EU is a part – to “substantially lower” a price cap on Russian oil sales that was supposed to push down the Kremlin’s profits.
Comments
Comments are closed.