The European Union is considering several options to proceed with its 21st package of sanctions against Russia, including easing curbs on Russian liquefied natural gas (LNG), Bloomberg has learned.
Negotiations on the sanctions package stalled last week, largely because Greece opposes a measure banning European companies from carrying Russia-produced LNG to third countries. Greek LNG carriers dominate the European market, competing with Japan, China and the United States.
EU officials are now discussing three options to overcome the negotiations conundrum:
- postpone the LNG restrictions by 24 months;
- remove the LNG clause from the package;
- abandon the sanctions package entirely.
Another concession under consideration would allow existing LNG transport contracts to continue, Bloomberg reported.
Separately, officials could also extend a temporary freeze on the Russian oil price cap even if agreement on the broader sanctions package remains out of reach. EU member states previously agreed to keep the cap at $44.10 per barrel until 23 July to allow more time for negotiations.
Without the extension, the cap would have risen in line with higher global oil prices, reducing pressure on Russia’s oil revenues.
European countries imported 9.89 Mln tonnes of liquefied natural gas from Russia’s Yamal LNG project in the first half of 2026, despite the European Union’s plans to phase out imports under long-term contracts, the Financial Times reported, citing data from analytics firm Kpler.
Previously, the US introduced a revised sanctions bill, which now includes an exemption for countries that import less than 15% of their natural gas from Russian suppliers.
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