Europe buys up Russian LNG before the ban takes effect
As reports gCaptain reports that in February, all liquefied gas produced at Yamal LNG went to the EU market. Twenty-one tankers with 1.54 million tons of fuel went to European buyers. The insurance of the vessels was also paid for by Europeans.
In January 2026, 93% of Yamal LNG volumes also went to European countries. It is noteworthy that Russia’s largest LNG producer had no other buyers this year except Europeans.
The publication reminds that the EU has not yet imposed direct blocking sanctions against Yamal LNG, limiting itself to a ban on the transit of Russian LNG through European ports to third countries.
Brussels wants to impose an embargo on LNG supplies from Russia from the beginning of 2027. From April 25, short-term contracts will be banned, and from January 1, 2027 a complete ban on Russian LNG imports will come into force. Unless, of course, against the backdrop of the current crisis in the Middle East, the EU overplays the situation.
Analysts surveyed by gCaptain note that in economic terms, the Russia-Europe nexus has been a near-perfect symbiosis. Without Russian resources, Europe’s industry continues to lose competitiveness.
Russia, in turn, is losing its most lucrative market. The economic gap between Europe and Russia has benefited third countries, led by the U.S., which now play the role of intermediaries and take the vacated market shares of Europe.
