Sanctions Eyeing Russian Gas Face Pushback

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The EU and G7 are considering formal bans on some pipeline imports of Russian gas and oil as part of new sanctions set to be discussed at this weekend’s G7 summit in Japan. Targets are said to be flows via the currently unused Yamal-Europe (via Poland) and Nord Stream gas pipelines, and the unused northern leg of the Druzhba oil pipeline. Arguably, this makes the measures look toothless, especially while Russian oil and gas continues to reach Europe via other routes, including as LNG. But those backing the sanctions may be aiming to lock in Europe’s shift away from Russian oil and gas. This, in turn, appears to have prompted some pushback from within the EU — both from those countries still eying Russian gas, and from those more focused on sanctions targets that would have a bigger impact.

Ukraine Crisis, Sanctions, Policy and Regulation, Gas Pipelines, Oil Pipelines, Ukraine Crisis
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