The European Union deserves credit for adopting its 21st sanctions package against Russia. Every new measure that limits the Kremlin’s ability to finance its war against Ukraine matters.
But this latest package also contains a dangerous precedent.
To secure unanimous agreement, the EU reportedly granted Greece a renewable exemption allowing European shipping companies to continue transporting Russian liquefied natural gas (LNG) to third countries under contracts signed before Russia’s full-scale invasion.
The concession is expected to benefit Dynagas, the Greek shipping company controlled by billionaire George Prokopiou, whose specialised vessels play a critical role in servicing Russia’s Yamal LNG project.
Dynagas owns or manages five specialised Arc7 LNG carriers serving Yamal LNG, Russia’s largest LNG export facility.
