EU's 21st Russia sanctions package faces Greek veto over LNG ban

EU ambassadors met in Brussels to finalize the 21st sanctions package against Russia, the first since former Hungarian PM Viktor Orbán left office. The draft includes extending the oil‑price cap, new measures targeting Russian energy exports and a ban on the purchase, import or transfer of Russian liquefied natural gas (LNG) that would take full effect in 2027.

Greece, home to the world’s largest merchant fleet, has vetoed the LNG provision, arguing it would cripple European shipping companies such as Dynagas and lead to job losses, while allowing Russian LNG to be rerouted through non‑EU operators. Athens seeks to revise the legal text, prompting the European Commission to consider economic analyses that could show a greater impact on Russia’s war‑financing than on EU interests.

Other member states have raised objections: Austria wants frozen shares of the Austrian builder Strabag returned to Raiffeisen Bank International; Germany, France, Italy and Portugal are pressing for exemptions on Russian fish imports; and Hungary no longer blocks the package. The EU requires unanimity, so the outcome may involve concessions to Greece, a temporary pause, or a broader compromise on the entire sanctions suite.