Negotiations on the 21st package of EU sanctions against Russia have hit a deadlock. The reason is a dispute over a ban on the transshipment and re-export of Russian LNG to third countries. Greece is leading the opposition.
According to Bloomberg, the European Union is set to discuss at least three possible scenarios for resolving the impasse. The core point of contention is Greece’s refusal to accept proposals that would prevent European companies from reloading and re-exporting Russian liquefied natural gas to states outside the bloc.
The core of the dispute
The proposed ban would directly target the business of transshipment terminals, primarily in Southern Europe, which have become a hub for Russian LNG. These facilities allow cargoes to be transferred from tankers arriving from Russia to smaller ships destined for markets in Asia and other regions. Greece, whose Piraeus port complex is a key player in this trade, argues that the ban would harm its economy and simply shift the business to non-EU competitors.
Meanwhile, last week, EU member states did agree to a temporary extension of the price cap on Russian oil, maintaining it at $44.10 per barrel until July 23. This extension shows that on some issues, unity can be found, but the LNG dossier remains deeply divisive.
Broader compromise efforts
Bloomberg notes that negotiations between member states are difficult because each capital is trying to protect the interests of its own economic sectors. In order to salvage the 21st package, several other proposals have already been weakened or deferred. Plans to ban entry into the EU for former Russian soldiers have been softened and postponed. Proposals to restrict imports of certain Russian fish products have been completely withdrawn.
According to sources cited by the agency, EU ambassadors are scheduled to meet again this week to continue negotiations. The main challenge is to find a formula that satisfies Athens without completely abandoning the goal of reducing revenues funding Moscow’s war.
Źródło: WNP.PL, Fot. Shutterstock/Mircea Moira
