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Greece Exposes the Limits of Europe's Russia Energy Sanctions
['Cyril Widdershoven', 'Cyril Widdershoven Is A Senior Maritime', 'Energy', 'Geopolitical Analyst', 'Senior Advisor At Blue Water Strategy', 'Specialising In The Strategic Intersection Of Shipping', 'Ports', 'More Info']
Oilprice.com
Brussels’s compromise has now included a temporary exemption for certain shipping activities related to Russian LNG destined for third countries.
Russian LNG cargoes continue to find markets beyond Europe.
Greek officials argue clearly that unilateral restrictions on European shipping could simply transfer business to competitors outside the European Union.
Decisions affecting LNG shipping therefore have consequences that extend beyond individual cargoes, influencing market flexibility, voyage economics, and long-term contractual relationships.
All of this is a result of the recognition that there is a broader evolution in European strategic thinking.