The EU has prepared the 14th sanctions package on the Russian Federation, and LNG trade and the fight to close loopholes are under the spotlight.

The European Commission sent the bloc’s countries a draft of the 14th package of sanctions to be levied against the Russian Federation, which targets the trade of liquefied gas. The concept is to ban the transshipment of Russian LNG in European ports, from where it is later distributed around the world. In addition, restrictions will apply to the Arctic and Murmansk LNG projects.

The EC also wants to impose sanctions on a dozen ships from the so-called shadow fleet that carry Russian oil in defiance of EU restrictions. This package would ban them from entering European ports. Transport companies that are 25% or more owned by the Russian Federation will also be prohibited from operating in the EU.

The European Commission has also prepared a list of more than 50 companies from non-EU countries that will be subject to trade restrictions (from China, Hong Kong, Turkey, and Kyrgyzstan). They supply Western components to the Russian Federation and provide other help to circumvent sanctions.