European Union countries have approved a 14th package of sanctions against Russia over its ongoing conflict in Ukraine. The new measures include a ban on the re-exports of Russian liquefied natural gas (LNG) within EU waters. Belgium, which currently holds the rotating EU presidency, announced on the X platform that the package aims to enhance the impact of existing sanctions by closing loopholes.
Debate over the new sanctions lasted over a month, with Germany prompting the watering down of a proposal intended to prevent circumvention. The dropped measure would have required EU company subsidiaries in third countries to prevent the re-export of goods to Russia. Germany requested an impact assessment for the measure, which may be revisited later.
While the LNG trans-shipment ban is the first of its kind, experts suggest it will have minimal impact, as Europe continues to buy Russian gas and trans-shipments to Asia via EU ports account for only about 10% of Russia’s total LNG exports.
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