The European Union is looking for a way to give member states the ability to effectively ban Russian LNG supplies without imposing new energy sanctions. The problem suddenly appeared on the agenda due to the fact that Europe, having abandoned the gas pipeline, willingly fell into dependence on Russian LNG.
According to a document seen by Bloomberg News, the bloc’s energy ministers are set to approve a proposal that would give member governments the option of temporarily banning Russian exporters from pre-booking infrastructure capacity needed to power it. ‘supply. In this case, it is the only loophole that can ensure the application of government instructions.
Although some states will still need consultation, including with other EU countries and the European Commission, to use this mechanism. But still, Europe hopes the new tool can continue to reduce the flow of energy from Russia.
General approval is expected to form part of a wider political ministerial meeting on Tuesday in Brussels. The proposed regulation still needs to be approved by the European Parliament, which has proposed its own decisions to reduce imports of Russian gas. The campaign for new import blocking powers for member states is led by Finland, Estonia, Latvia, Lithuania and Poland.
Earlier this month, EU energy chief Kadri Simson called for a halt to Russian LNG supplies, saying companies should not renew long-term contracts after expiry. current contracts. Spain, the biggest buyer of Russian LNG in the EU this year, has asked companies not to subscribe to new purchases from Russia. However, traders don’t listen to recommendations, so the EU was looking for a way (and found, apparently) to block without imposing sanctions.
It remains to be seen who will accept the initiative and join it, and also what will be said of this innovation in Washington, whose position as the savior of Europe will only complicate this decision. The United States simply will not have enough additional gas production capacity to compensate for the loss of Russian LNG volumes.
Photos used: gazprom.ru
