NewsEU slams russia with 14th sanctions package, targets LNG trade

EU slams russia with 14th sanctions package, targets LNG trade

Josep Borrell, High Representative of the EU for Foreign Affairs and Security Policy.
Josep Borrell, High Representative of the EU for Foreign Affairs and Security Policy.
Images source: © PAP | PAP/EPA/OLIVIER HOSLET

8:07 AM EDT, June 24, 2024

On Monday, the EU adopted its 14th package of economic and individual sanctions against Russia. The measures include restrictions on 116 people and entities for undermining Ukraine's sovereignty and independence and a ban on the transhipment of Russian LNG within the EU.

The decision to implement the 14th package of economic and individual sanctions against Russia was made in Luxembourg during a meeting of EU foreign ministers.

Our sanctions have already significantly weakened the Russian economy and prevented Putin from realizing his plans to destroy Ukraine, although he continues the illegal aggression aimed at the civilian population and infrastructure. The 14th package of sanctions demonstrates our unity in supporting Ukraine and our efforts to limit Russia's criminal activities against Ukrainians, including attempts to circumvent EU measures, said Josep Borrell, High Representative of the EU for Foreign Affairs and Security Policy.

The package includes sanctions against 116 people and entities, among other things, for actions undermining or threatening Ukraine's territorial integrity, sovereignty, and independence.

Impact on LNG

To reduce Russia's significant revenues from the sale and transport of LNG, the EU has decided to prohibit transshipment services of Russian LNG within the Community.

This does not apply to imports, only to re-exports to third countries via the EU.

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