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Bloomberg: EU spends record $13 billion on Russian LNG

by The Kyiv Independent news desk November 30, 2022 9:29 PM 1 min read
This audio is created with AI assistance

According to Bloomberg, European Union members spent 12.5 billion euros on Russian liquefied natural gas between January and September, five times more than during the same period in 2021.

LNG imports from Russia to the EU are up about 40% annually.

Belgium imported more than double Russian LNG from January to October, and France imported up to 60% more.

“We have never announced any work on a ban on Russian gas, and that has not changed,” Eric Mamer, the European Commission’s chief spokesman, said on Nov. 25. Only the UK and Baltic states have reportedly stopped buying Russian LNG.

Naftogaz CEO Vitrenko: ‘Russian gas is a weapon’

Since Russia started its full-scale war against Ukraine, the European Union has decreased its consumption of Russian natural gas from 40% to 9%, even though it has hurt the European economy, Matti Maasikas, the head of the EU delegation to Ukraine, told RBK-Ukraine.

"The EU and its member states are making a purposeful effort to stop importing Russia's gas completely," said Maasikas.

According to the official, sanctions imposed by the EU have a substantial impact on Russia, and although energy prices rose in the first half of 2022, Russia "can't buy much" with this money due to the trade restrictions from Western countries.

News Feed

10:57 PM

Trump administration weighs sanctions relief for Russia, Reuters reports.

The White House has directed the State and Treasury departments to compile a list of sanctions that could be lifted, according to sources. While internal government offices routinely prepare such options, the White House’s direct request signals a serious consideration of sanctions relief.
8:17 PM

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In the wake of the Feb. 28 clash between U.S. President Donald Trump, Vice President JD Vance, and President Volodymyr Zelensky in the Oval Office, the Kyiv Independent went to the streets of Kyiv to ask Ukrainians what they think of the now infamous meeting.
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