10:55 11 May 2024
EU Energy Commissioner: Sanctions on Russia's LNG Financing and Technology Possible
The EU is considering restricting Russia's access to financing and technology for liquefied natural gas (LNG) exports, according to Kadri Simson, EU Energy Commissioner. This would be the first time the EU has targeted the Russian gas sector.
The move comes in response to Russia's decision to cut off gas supplies to Europe in 2022. The EU believes Russia is now more reliant on LNG exports and therefore more vulnerable to sanctions.
The proposed sanctions would be a significant escalation of the EU's economic war against Russia. It remains to be seen whether the EU will be able to agree on the package and whether it will have the desired effect of further weakening Russia's economy.
(Newseria)
