European Union may impose sanctions on key Russian LNG projects

The European Union is discussing with member states a proposal to sanction key Russian LNG projects and ban the re-export of gas destined for third countries using European Union ports, as part of an effort to limit Russia's ability to generate revenue from fossil fuels. The goal of the move is to further hit Russia's LNG supply chain, as well as future revenues from projects such as Arctic LNG 2, UST Luga LNG end point and Murmansk plant, according to people familiar with the matter. Under the plan, ports in European Union member states would also be banned from importing Russian supplies before re-exporting them to third countries. But there would be no ban on the purchase of the fuel within the European Union. Discussions are still at an early stage, and some member states are skeptical of the proposals.