“Russia’s war economy is sustained by the revenues from fossil fuels. We want to cut these revenues,“ said European Commission President Ursula von der Leyen, as she announced the proposal, which requires approval from EU governments.
Kaja Kallas, the EU’s foreign policy chief, said on X that the aim was to “to speed up the phase-out of Russian liquefied natural gas (to be complete) by 1 Jan 2027”.
Sanctions in the EU need the unanimous approval of all 27 of its member states.
Beyond LNG, or liquefied natural gas, the proposed sanctions would also target more of Russia's shadow tanker fleet and cryptocurrency. Von der Leyen and Kallas did not give full details of the new package, but officials said it would also target Russian and central Asian banks, Chinese refineries and special economic zones, a customs loophole used by Moscow to import dual-use goods for its military.
Trump is pressing Europe to play a more robust role in helping end Russia's war in Ukraine, demanding it shoulder a greater burden of the cost of shoring up Ukraine's military and do more to deprive Moscow of the energy revenues bankrolling its war economy.
Russia's share in EU imports of LNG decreased to 14% in the second quarter of 2025 from 22% in the first quarter of 2021, according to Eurostat. Spain, Belgium, the Netherlands and France import Russian LNG. Gas piped via TurkStream goes to Slovakia, Hungary and Bulgaria.
Totalenergies CEO Patrick Pouyanne said last week that Russian gas was needed until the end of 2027, “then we can exit from that because we can source it from other places without impact on the price”- REUTERS
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