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Greece blocks EU sanctions against Russia over LNG shipping concerns

14 sourcesFirst reported 5 days agoUpdated 4 days ago

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Greece has expressed objections to the European Union's proposed sanctions package against Russia, specifically concerning the shipment of Russian LNG. The Greek government warns that banning the transfer of Russian gas to third countries could result in a loss of market share to non-EU competitors. The shipping company Dynagas has also responded, suggesting that the sanctions would not effectively harm Russia but may shift business away from Europe. This stalemate has prevented a definitive agreement among EU member states regarding the sanctions. Concerns over the impact of these sanctions on the Greek shipping sector have contributed to Greece's resistance to the proposed measures.

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Greece has expressed objections to a proposed 21st sanctions package from the European Union targeting Russia, specifically concerning the transportation of liquefied natural gas (LNG). Greek officials raised concerns that a ban on transferring Russian LNG to third countries could diminish the competitiveness of Greek shipping and lead to a loss of market share to non-EU rivals. These objections echo sentiments within the Greek maritime sector, which sees the sanctions as potentially detrimental to its interests, particularly for companies like Dynagas.

The financial implications of such sanctions have prompted a cautionary stance from Athens. Greek officials warned that the restrictions might not effectively weaken Moscow but could instead facilitate the transfer of business opportunities and expertise outside European control. Reports suggest that discussions among EU member states regarding these sanctions have stalled, primarily due to Greece's resistance, emphasizing the importance of its shipping sector and its potential adverse effects on the broader European market for LNG.

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17 July

Greece warns that EU sanctions against Russia may harm European LNG market competitiveness.

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Greece blocks EU sanctions against Russia over LNG shipping concerns

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