Europe Plans Outright Ban Of Russian LNG Imports

(MENAFN- Yolo Wire) The European Union (EU) has put forward a 19th package of sanctions against Russia, including an outright ban on imports of liquefied %NaturalGas (LNG).

The proposed ban on Russian LNG imports comes as the U.S. pressures Europe to do more to end the war in Ukraine.

In a news release, European Union President Ursula von der Leyen said: "We want Russia to leave the battlefield and come to the negotiation table, and this is the way to give peace a real chance."

A proposed ban on Russian LNG imports comes with winter approaching across Europe, potentially stressing energy supplies in many countries such as France and Germany.

For this reason, a full prohibition on Russian LNG imports would not go into effect until January 2027, drawing criticism from some quarters.

Beyond LNG, the new sanctions package includes measures targeting Russia's financial and energy sectors.

The European Union is proposing a full transaction ban on Russian banks, including those operating in third countries.

The sanctions also include a ban on investments in Russian special economic zones linked to the invasion and war in Ukraine.

The proposed energy sanctions would also end exemptions currently in place for Russian oil and natural gas companies Rosneft and Gazprom Neft.

The package of new sanctions requires approval from European Union member states before it can be implemented.

U.S. President Donald Trump is trying economic coercion to end Russia's attacks on Ukraine after diplomacy appears to have failed.

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