EU sanctions package leaves door open for Russian LNG

The agreement, reached after a month of deadlock, permits Greek firms to maintain operations even after the EU’s formal import ban takes effect in 2027. At the heart of the controversy is Dynagas, a company managing 11 specialized ice-class tankers essential for moving Russian gas through Arctic waters to Asian markets. Since the invasion of Ukraine began, Greek-linked vessels have facilitated roughly €23 billion in Russian LNG trade, according to data from the Centre for Research on Energy and Clean Air.

While the European Commission defended the carve-out by claiming that a total ban would only cede operational control of the fleet to Chinese owners, critics view the decision as a failure of collective resolve. "Every caveat out of sanctions means helping Russia to continue aggression and to grow muscles for further attacks," noted one EU diplomat. Beyond the energy sector, the package also saw Bulgaria and Austria secure exemptions for Patriarch Kirill and the Russian operations of Raiffeisen Bank. Despite these concessions, the deal does broaden restrictions on dual-use goods, Russian-linked refineries, and the sale of tankers to entities with ties to Moscow.