The European Union's sanctions against Russian liquefied natural gas will be an unpleasant surprise for Russia, but will not undermine the economy of the aggressor country.
This is stated in the article by Apostrophe.
Currently, the EU is considering banning the re-export of Russian LNG from its ports. This will complicate Russia's supply logistics and, consequently, reduce its revenues.
However, the impact of this sanction on Russia's financial situation should not be overestimated.
"If Russia's potential market shrinks, the remaining buyers will be able to use (this situation) to put price pressure on Russia. But how serious will this pressure be? Russia's total LNG exports are about 45 billion cubic meters per year. If we are talking only about re-exports, the ban will affect a small volume. Therefore, I would not make any excessive hopes," Andrian Prokip, Director of Energy Program at the Ukrainian Institute for the Future, told Apostrophe.
According to the expert, sanctions against Russian gas should be more decisive. He believes that Europe could easily refuse not only liquefied gas, but also any gas from Russia without any harm.
"This would have a greater effect. But the current decision is essentially full of fear," Prokip summarized.
Earlier, Apostrophe reported that the EU has no doubts about the legitimacy of Volodymyr Zelensky as President of Ukraine.