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The EC is choosing to eliminate Russian LNG a year ahead of the initial schedule. The portal reports, referencing a draft proposal for actions within the 19th EU sanctions package, that there's a plan to establish an earlier deadline for long-term contracts by the end of 2026 and concurrently, a six-month timeframe after the sanctions package takes effect for short-term agreements.
As reported by Politico, "the aim of prohibiting Russian LNG is to diminish Russia's earnings from fossil fuel sales."
The proposal draft additionally features prohibitions on EU firms investing in Russian economic areas and engaging in cryptocurrency dealings, along with limitations on 12 Chinese, two Thai, and three Indian companies, which European officials claim are "aiding Russia in circumventing sanctions."
Previously, the European Commission stated that it anticipates to "slowly and in a coordinated way" stop all Russian gas imports to the EU by the close of 2027.
source: politico.com
As reported by Politico, "the aim of prohibiting Russian LNG is to diminish Russia's earnings from fossil fuel sales."
The proposal draft additionally features prohibitions on EU firms investing in Russian economic areas and engaging in cryptocurrency dealings, along with limitations on 12 Chinese, two Thai, and three Indian companies, which European officials claim are "aiding Russia in circumventing sanctions."
Previously, the European Commission stated that it anticipates to "slowly and in a coordinated way" stop all Russian gas imports to the EU by the close of 2027.
source: politico.com
