The European Union announced on Wednesday in its 19th sanctions package against Moscow a ban on imports of Russian liquefied natural gas (LNG).
This action is part of the union’s strategy to reduce energy dependence on Russia and increase pressure on the Kremlin due to the ongoing war in Ukraine.
This decision is considered Europe’s largest energy sector action since the war began in February 2022.
The Russian gas import ban will be implemented in two phases: short-term contracts will end within six months, and long-term contracts will be suspended from January 1, 2027.
Simultaneously with Europe’s decision, the United States also announced its first sanctions package related to the Ukraine war during Donald Trump’s second presidential term.
Russian oil companies Rosneft and Lukoil, along with dozens of their subsidiaries, have been placed on the sanctions list.
