Ban on transit of Russian LNG through EU ports to come into force in 9 months

As part of the 14th round of sanctions, the EU has introduced a ban on the transit of Russian LNG through European ports to third countries, Report informs referring to TASS.

This measure is set to come into force after a transition period of nine months, according to a statement from the European Commission.

The ban on Russian LNG transit is expected to have far-reaching consequences for the country's energy sector. Russia, being one of the world's largest producers of natural gas, has relied on European ports for the transshipment of its LNG to other markets. With this crucial route now being cut off, Russia will face challenges in finding alternative routes and buyers for its LNG exports.

In addition to the LNG transit ban, the EU has also targeted 27 tankers that transport Russian oil and petroleum products, regardless of their compliance with the G7 price ceiling. This move aims to further restrict Russia's ability to generate revenue from its energy exports.