Political pressure in his bays European Union are increasing to solve the difficult task of closing the loophole that remains open in efforts to move away from fossil fuels. fuel Russia. “Loophole” is called liquefied natural gas (LNG). Within twelve months from Russian invasion of Ukrainein February last year, the EU imposed sanctions on offshore oil imports and coal from the first. This dramatically reduced dependence on Russia. natural gas through pipelines, despite the fact that it does not have sanctioned fuel. However, at the same time, EU countries have increased overall purchases of Russian LNG, undermining its commitment to stop using Russian fossil fuels by 2027. sent billions of dollars to Russian gas companies Gazprom and Novatek, dollars that can be used to finance the war in Ukraine.

Energy groups, through taxation, are among the largest contributors to its budget. Russia. Analysts at CapraView, a global gas forecasting company, have estimated that almost half of the liquefied natural gas exported by Russia in the first ten months after its invasion of Ukraine was sent to Europe, representing about 14 billion euros in revenue.

EU countries have significantly increased purchases of Russian liquefied natural gas.

The EE analysis found that imports of Russian liquefied natural gas increased in 2022 to 22 bcm. m compared to 16 billion cubic meters. gas supplied to the EU every year. from Moscow. However, some countries increased the number after the war. For example, according to Kpler analysis, Belgium and Spain nearly doubled their Russian LNG imports in the 12 months after invading Ukraine. However, the willingness to address this issue is growing in 27 Member States, but no consensus has been reached on how to do so.

Finally, EU Energy Commissioner Kadri Simpson is reported to have urged member states and companies to stop deliveries of Russian liquefied natural gas when a concerted EU effort aims to cut Russian revenues. Also in March, Spanish energy minister Teresa Ribera urged Spanish buyers not to sign new contracts for Russian LNG. However, he added that if there are no sanctions, EU companies that have stopped buying Russian LNG may have to pay fines for not fulfilling existing contracts.