EU Finalizes 19th Sanctions Package Against Russia, Targets LNG Imports

The EU has approved its 19th sanctions package against Russia, which includes a ban on Russian liquefied natural gas imports. Slovakia was the last EU country to agree. The ban will be phased, with short-term contracts ending in six months. Additional travel restrictions for Russian diplomats are also included.

The European Union has successfully approved its 19th sanctions package targeting Russia, encompassing a ban on the import of Russian liquefied natural gas (LNG). This decision was confirmed by the Danish rotating presidency of the EU on Wednesday.

Slovakia, initially the final hold-out, agreed after assurances on high energy prices and climate targets were provided by the European Commission, particularly concerning the automotive and heavy industries.

The sanctions package entails a two-stage implementation of the LNG ban: short-term contracts will conclude within six months, while long-term agreements are set to end by January 1, 2027. This package, ahead of schedule, reinforces the EU's roadmap to reduce reliance on Russian fossil fuels.

(With inputs from agencies.)