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ShreeMetalPrices: EU aims to ban Russian LNG: Spain’s energy minister


According to Spain’s Energy Minister Teresa Ribera, the European Union (EU) will decide sooner rather than later to forbid the import of LNG from Russia.
When asked if the European Union will gather the political will for such a step. She responded in an interview on Tuesday, “This will be coming sooner than later.”

EU nations decided in March to look into legislative options to prevent Russian companies from delivering LNG to the bloc.

Russian imports of liquefied petroleum gases are in the news as the European Union attempts to strip Russia of its energy export earnings by forbidding the import of Russian crude & oil items and drastically reducing the flow of Russian gas through pipelines.

In a letter written in March, Ribera urged Spain’s biggest LNG importers. And operators to forgo signing new agreements to purchase Russian liquefied natural gas once the current ones have run their course The request came in response to a comparable plea by European Union Energy Commissioner Kadri Simson.

In order to be consistent, Ribera stated, “we must make clear we will not accept Russian LNG for any longer, We might all be far more relaxed with this prospect.

LNG Import

All the businesses that Ribera contacted agreed not to sign any new contracts and continued to say. “Adopting this course of action, banning the imports for LNG through Russia, would become easier over time.”

The Spanish government is making further attempts to restrict the import for Russian energy goods, and one of those efforts is an appeal to LNG importers. Spain has already increased import documentation checks and looked into accusations of Russian diesel is reaching Europe through unrecognised territory.

However, according to Ribera, there is currently no proof that this is taking place. She acknowledged that it is challenging to trace the origin of energy items but said the govt is in discussions with port & customs agencies.

Ribera is urging the European Commission to implement a certification mechanism to monitor imports from Russia and ensure that sanctions are not broken.

Josep Borrell, the head of the European Union’s foreign policy, suggested that the group should take action against India for reselling Russian oil as refined gasoline, particularly diesel, into Europe. Ribera issued a warning about this plan.