{"id":2241480,"date":"2024-05-10T03:11:02","date_gmt":"2024-05-10T07:11:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-west-eyes-russian-lng-as-pain-point-for-sanctions\/"},"modified":"2024-05-10T03:14:53","modified_gmt":"2024-05-10T07:14:53","slug":"the-west-eyes-russian-lng-as-pain-point-for-sanctions","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-west-eyes-russian-lng-as-pain-point-for-sanctions\/","title":{"rendered":"Western nations view Russian LNG as a vulnerable point for sanctions"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-west-eyes-russian-lng-as-pain-point-for-sanctions%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2241480&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The European Union and the U.S. are pursuing sanctions\u200b to curtail Russian LNG \u200bexports,\u2064 restricting \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kathleen-j-anderson-who-is-biden-really-sanctioning-russia-or-the-american-people\/\" title=\"Kathleen J. Anderson: Who Is Biden Really Sanctioning; Russia or the American People?\">fossil fuel revenue<\/a> and disrupting Russia&#8217;s energy sector. The focus is on impeding Russia&#8217;s ambitions in the global LNG market and hindering its Arctic shipping routes, leading to increased challenges in the LNG\u200b industry. The European Union and\u2062 the \u2064U.S. \u200care implementing sanctions to limit Russian LNG exports, aiming to reduce fossil fuel revenue and disturb \u2063Russia&#8217;s energy sector. The strategy \u2062targets\u200c Russia&#8217;s aspirations in the global LNG market and obstructs its\u200b Arctic shipping\u200b routes, intensifying hurdles in the LNG industry.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p><iframe loading=\"lazy\" title=\"Reporter's Notebook: The international reaction to Biden's LNG pause\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/2VCWhm2y5UY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The European Union is negotiating a ban on <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/russia\/\" target=\"_blank\" rel=\"noopener\" title=\"Russian\">Russian<\/a> liquefied natural gas exports in its latest sanctions package, bolstering U.S. actions to restrict Russia\u2019s fossil fuel revenue, slow construction of new LNG terminals, and upend its ability to export the chilled gas to buyers overseas.<\/p>\n<p>The crackdown on Russian LNG comes as Western leaders search for a way to <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2709402\/the-biggest-ways-russias-invasion-of-ukraine-has-reshaped-energy-markets-two-years-on\/\" target=\"_blank\" rel=\"noopener\" title>more aggressively restrict<\/a> Russia\u2019s energy revenues, which provide funding for its war in Ukraine. In the more than two years since Russia\u2019s invasion, the West has passed dozens of sanctions packages and bans on Russian oil and gas, <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2435648\/eu-imports-of-lng-from-russia-hit-record-high-despite-efforts-to-avoid-funding-putin\/\" target=\"_blank\" rel=\"noopener\" title>including<\/a> a G7 effort to cap prices for Russian crude oil.<\/p>\n<p>Despite this, Russia has continued to see large profits from its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marco-rubio-american-energy-must-compensate-for-russian-energy-export-ban\/\" title=\"Marco Rubio: American Energy Must Compensate for Russian Energy Export Ban\">energy exports due<\/a> in part to higher global demand for oil and gas and its ability to evade the oil price cap.<\/p>\n<p>In April, Russian oil and gas revenue climbed to $126 billion, more than doubling the earnings from the same period last year, underscoring the frustration and sense of urgency for Western leaders to act.<\/p>\n<p>As a result, the West is now looking to the country\u2019s burgeoning LNG export sector as an opportunity to enact pain. Leaders hope to block Russia from its goal of capturing one-fifth of the global LNG market within the next decade.<\/p>\n<p>The draft sanctions being considered by <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/energy\/\" target=\"_blank\" rel=\"noopener\" title>EU<\/a> leaders would prohibit member states from participating in the \u201ctransshipment\u201d of Russian LNG, or the process by which the chilled natural gas is imported at key EU ports, moved to a different vessel, and then reexported to buyers in Asia and India. <\/p>\n<p>Russia\u2019s current shipping model for LNG routes many of its shipments to Asian buyers through ports in the EU countries of Spain, Belgium, and France, according to data compiled by the Centre for Research on Energy and Clean Air.<\/p>\n<p>If the sanctions are passed, Russia would be forced to send its supplies to Asia via the Arctic, a lengthy, costlier journey.<\/p>\n<p>Meanwhile, its plans to expand LNG terminals there have also been stalled as the result of a monthslong U.S. effort to block Russia\u2019s ability to expand or bring online planned LNG export facilities.<\/p>\n<p>The United States has slapped heavy sanctions on such projects, with a focus on Russia\u2019s $25 billion planned Arctic LNG 2 facility in the Gydan Peninsula.<\/p>\n<p>\u201cThese designations have already hampered the project\u2019s ability to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-under-fire-for-decision-to-grant-syrian-dictators-cousin-a-us-visa\/\" title=\"Biden Under Fire for Decision to Grant Syrian Dictator\u2019s Cousin a US Visa\">export energy<\/a> and resulted in significant increases in the project\u2019s construction costs,\u201d the State Department said in a statement last week.<\/p>\n<p>While the exact level of coordination on U.S. and EU sanctions efforts is unclear, outside observers see a shared ambition in blunting Moscow\u2019s rising ambitions in the LNG sector. <\/p>\n<p>In October, Russia outlined its plan to triple LNG exports by 2030, up from 33 million tons in 2023 to 110 million tons in 2030, estimating it would add at least $35 billion in annual revenue.<\/p>\n<p>The U.S. actions and proposed EU sanctions seek to \u201cmake it harder for Russia to develop a coherent strategy to cope, particularly in the case of LNG,\u201d Paul Saunders, the president of the Center for the National Interest, told the <em>Washington Examiner.<\/em><\/p>\n<p>Russia\u2019s ambitions have also given Western leaders reason to act on slowing Moscow\u2019s ability to procure ice-class tanker ships, which are needed to send LNG through the Arctic.<\/p>\n<p>Unlike crude oil tankers, these ships are highly specialized and much more limited in number, making them easier to track and regulate. They were also included in the U.S.\u2019s latest tranche of Russian sanctions <a href=\"https:\/\/ofac.treasury.gov\/sanctions-programs-and-country-information\" target=\"_blank\" rel=\"noopener\" title>announced<\/a> earlier this month.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title=\"CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>\u201cThe number of ships globally that are equipped to carry LNG is small,\u201d Saunders said. \u201cThe number that can carry LNG through the Arctic is even smaller.\u201d<\/p>\n<p>The Biden administration did not respond to the <em>Washington Examiner\u2019s<\/em> request for comment on the sanctions efforts.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU considers banning Russian LNG exports in new sanctions, aligning with U.S. efforts to curb fossil fuel revenue and LNG expansion. This move challenges Russia&#8217;s gas export capabilities amid Western scrutiny<\/p>\n","protected":false},"author":2650,"featured_media":2241481,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/05\/AP22349571908601-1024x682.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2241480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/05\/AP22349571908601-1024x682.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2241480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2241480"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2241480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2241481"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2241480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2241480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2241480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}