The massive strengthening of anti-Russian energy sanctions should affect gas, not oil. About this “Lente.ru” declaration Igor Yushkov, a leading analyst at the National Energy Security Fund (FNEB).
“A serious tightening could affect the gas industry, because the gas industry is not actually under sanctions. The West discussed banning Russian liquefied natural gas (LNG) for transhipment and storage at European ports. The Yamal LNG project may suffer from this. But still, everything will depend on how it is written, ”said Yushkov.
According to him, Russia is Europe’s second largest LNG supplier. Therefore, the decision to restrict the supply may cause the prices of this fuel to increase in this region.
It is now possible to ship and insure oil from Russia, but only if it is below the 60-per-barrel ceiling, he added. That’s why the only thing the European Union can do about Russian oil right now is to ban entry into the waters of some countries. This will complicate the logistics, but will not incur significant costs.
May 12 British weekly The Spectator WroteThat the West failed and failed to achieve its goals by declaring a war of sanctions on the Russian Federation after the start of a special military operation on the territory of Ukraine.