Analysis of New EU Sanctions Targeting Russian Gas: Could They Have Gone Further?

The European Union has taken a significant step in its ongoing efforts to impose sanctions on Russia, targeting Vladimir Putin’s liquefied natural gas (LNG) exports for the first time. This move comes as the conflict in Ukraine continues into its 29th month, with the EU aiming to cut off a key revenue stream for Putin’s regime.

The latest package of sanctions, the 14th launched by the EU against Russia, includes a ban on trans-shipments of Russian LNG off EU ports, preventing it from being sold to third countries via EU ports. Additionally, the sanctions target specific vessels used to circumvent price caps on Russian oil set by the G7 countries, as well as investments and services in new LNG projects in Russia.

Despite these measures, the sanctions do not go as far as an outright ban on Russian LNG shipments, reflecting the fact that EU members are still permitted to buy LNG from Moscow. The EU has set a goal to phase out Russian fossil fuels by 2027, but the current sanctions fall short of fully achieving that objective.

Critics have raised concerns about the effectiveness of these sanctions, particularly as they were reportedly watered down due to opposition from countries like Germany and Hungary. Russia remains a major supplier of LNG to the EU, with the potential for shipments to be rerouted through alternative channels, limiting the impact of the sanctions.

While the EU’s efforts to target Russian gas exports demonstrate a commitment to weakening Putin’s regime, the limitations of these sanctions underscore the EU’s continued reliance on Russian energy sources. As the conflict in Ukraine persists, the debate over the effectiveness of such sanctions and the need for further action remains ongoing.