New Economic Blow For Putin: EU Sanctions on Russian LNG

New Economic Blow For Putin: EU Sanctions on Russian LNG

Russia may be left without a significant part of its revenues the EU is preparing sanctions against Russian liquefied natural gas it will become a part of the 14th package in particular the ban on re exports while it isn’t an outright ban it would Mark the first time Europe enforces concrete measures against Russian LNG the sanctions would further complicate shipping logistics for Russia and force specialized vessels to travel over longer roads from publication in Bloomberg Russian terminals on the Arctic Coast are now exporting LG V Europe in the ports of Spain Belgium and France Russian LNG is transferred from Arctic gas carriers adapted to work at extremely low temperatures to ordinary tankers these tankers carry the gas to Asia at the same time part of the LNG settles on the European markets Bloomberg writes with new restrictions the EU seeks to deprive the exporter of such an opportunity an alternative Russia may be the port in mormans or Moscow may decide to increase experts in the summer season when the sea is not covered with the ice if alternative shipping Arrangements fail Russian LNG exports may be reduced Russian LNG exports to Asian buyers could decline or become more expensive to account for higher Fri costs in an extreme scenario if novatech were unable to reconfigure its Logistics and Russian LNG exports where shut in Europe would be disrupting a Russian Supply contract with China for 3 million tons per year which may generate a political backlash from China James woodell head of European gas and Global LNG at Think Tank energy aspects in comments to Bloomberg Russia wanted to replace the European LG market with the Chinese one but hopes have not been fulfilled experts believe China Imports liquefied natural gas from more than 20 countries and the Russian part in the total amount is insignificant besides Beijing traditionally prefers to receive Russian Pipeline gas rather than liquefied but even in this regard Moscow has few reasons for optimism Russia has turned to China seeking to boost its pipeline gas sales to 100 BCM a year by 2030 Russia’s biggest hope is the power of Siberia 2 pipeline via Mongolia which is planned to export 50 BCM per year but that has hit some pitfalls due to the lack of agreement over pricing and other issues even if gas prom can get its Pipeline Supply to China up and running sales revenues will be much lower than from Europe from publication in raer in 2023 Russia’s gas prom suffered multi-billion dollar losses almost 6 b700 million this is an anti- reccord since 1999 and this year this trend is the same in the first quarter of 2024 gas prom’s losses exceeded half a billion dollars Moscow had pinned its hopes on Turkey it expected to increase export volumes by several times but Ankara has decided to limit its dependence on Russian energy carriers and today plans to conclude an agreement on LG supplies with American companies and Russia can do nothing about it turkey has had and continuous to have such a dual political position it speaks about the need for peace and offers its mediation services in general it is one of the few countries with which the Russian Federation has a dialogue the same with China and a few other countries therefore for the Russian Federation to limit its circle of communication to North Korea China and Iran is a political loss if the EU decides to ban re experts on Russian liquefied natural gas the restrictions would affect about a quarter of the aggressive country’s LG revenues which is almost 8 billion euros in addition the EU May impose sanctions on Russian Shadow Fleet vessels that transport oil and oil products in circumvention of earlier restrictions Russian helium and magnesium ore as well as a number of propaganda media Outlets may also come under sanctions reported by Anastasia tarava valerianova uatv news

In this video, we explore the EU’s new sanctions on Russian liquefied natural gas and their potential impact. The ban on re-exports through European ports could significantly cut Russia’s revenues. We also discuss Gazprom’s financial struggles, the limited role of China in absorbing Russian LNG, and Turkey’s shift away from Russian energy. Join us to understand the broader implications for global markets and Russia’s economy.
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