Greece Secures LNG Exemption in EU Sanctions Deal on Russia
Disagreements over gas shipments initially blocked an agreement, but EU ambassadors later reached a deal allowing Greek firms like Dynagas to continue carrying Russian LNG.
Greece derailed an EU sanctions plan on Russia due to a dispute over gas shipments, according to one source. Other sources report that an exemption was granted, allowing the deal to proceed.
A row over gas shipments prevented a deal late Wednesday evening, with talks set to resume, according to one source. Another source confirms a deal was reached later.
Greek companies such as Dynagas will be allowed to continue carrying Russian LNG.
The deal reached by ambassadors grants Greece an exemption to ship Russian LNG to non-EU clients for the foreseeable future, according to one source. This contradicts earlier reports of a derailed plan.
Updates
The exemption for Greek firms is now confirmed as part of the EU's 21st sanctions package. Under these new provisions, European companies are permitted to continue transporting Russian LNG to third countries, provided the relevant contracts were concluded before February 24, 2022.
The EU's 21st sanctions package now specifically targets Russian banks as part of broader measures regarding the war in Ukraine. Additionally, European companies are permitted to continue transporting Russian LNG to third countries, provided these shipments are based on contracts finalized before February 24, 2022.
The EU's 21st sanctions package has been officially finalized, incorporating Greece's LNG concession to prevent strategic shipping assets from shifting to China. Under the agreement, European operators are now permitted to transport Russian LNG to third countries for a duration of one year, provided the contracts were concluded prior to February 24, 2022. Additionally, the finalized package expands sanctions to target Russian financial services and cryptocurrency sectors.
