A roundup of news and commentary from NGI’s LNG Insight

  • The European Union (EU) on Tuesday proposed banning Russian coal imports worth 4 billion euros ($4.4 billion) annually as part of a fifth round of sanctions against the country. “This will cut another important revenue source for Russia,” said European Commission (EC) President Ursula von der Leyen.
  • The proposed sanctions again excluded Russian natural gas exports to the continent, which account for roughly 40% of its supplies. The Dutch Title Transfer Facility finished lower Tuesday.
  • However, the EU said it was working on additional sanctions, including those targeting Russian oil. Russia is the bloc’s largest oil supplier, providing 27% of its imports in recent years, according to the EC.
  • The proposals came in response to alleged atrocities by the Russian military near Kyiv. They also included a ban on Russian vessels entering EU ports, but exemptions were made for key products like energy. Other industries and financial institutions were also targeted by the latest round of penalties against Russia.