EU Agrees on 16th Round of Russia Sanctions, Report Emerges - Bloc's Russian LNG Imports Increased

Europe increased its imports of Russian liquefied natural gas (LNG) by 12% in 2024, with one-third of these volumes coming from spot market purchases, Orda reports, citing The Institute for Energy Economics and Financial Analytics.

Meanwhile, the European Union agreed on Wednesday to impose fresh sanctions against Russia, according to Euronews.

The EU Agency for the Cooperation of Energy Regulators has urged member states to reduce Russian LNG imports, beginning with spot trades gradually.

Despite this recommendation, the bloc's Russian LNG imports surged 18% in 2024, with spot trades accounting for 31% of the total volume.

France, Spain, and Belgium were responsible for 85% of Europe's Russian LNG imports last year.

France and the Netherlands dramatically increased their Russian LNG purchases by 81%, while Spain and Belgium showed marginal reductions in their import volumes.

The latest sanctions package — the 16th since February 2022 — introduces a ban on imports of Russian primary aluminum and broadens the blacklist against tankers belonging to Russia's "shadow fleet," which Moscow uses to circumvent Western oil trade restrictions.

The package also expels 13 Russian banks from the SWIFT electronic system and suspends broadcasting licenses for eight Russian media outlets.

The timing of these new sanctions comes amid uncertainty created by Donald Trump's approaches to negotiations on Ukraine.

Trump's Secretary of State, Marco Rubio, suggested that Europe would eventually join negotiations to discuss sanctions relief, saying:

The European Union is going to have to be at the table at some point because they have sanctions as well that have been imposed.

European Commission President Ursula von der Leyen emphasized the EU's commitment to "keep up the pressure on the Kremlin." 

At the same time, the EU College of Commissioners plans to mark the invasion's anniversary with a joint visit to Kyiv.

Incidentally, U.S. President Donald Trump's special envoy for Ukraine, Keith Kellogg, arrived in Kyiv on Feb. 19.