Greece blocks EU Russian LNG sanctions to protect Dynagas

Athens has blocked the 21st EU sanctions package that would ban the transshipment of Russian liquefied natural gas (LNG) to third‑country destinations. The Greek government said the measure would jeopardise the interests of Dynagas, a specialised LNG carrier fleet owned by billionaire shipowner George Prokopiou. A Greek ambassador told EU colleagues the sanctions would “destroy” Dynagas, and officials warned that the ban could cause European market share to slip to competitors such as China, Japan or the United States.

The objection delayed the adoption of the sanctions, with EU ambassadors postponing a decision until 23 July. The EU’s existing price‑cap on Russian oil remains at $44.10 per barrel. Greece’s stance reflects concern that a blanket LNG ban would hurt European shipping, reduce EU competitiveness and unintentionally benefit non‑EU operators, while still aiming to pressure Russia’s war in Ukraine.

Other member states have expressed reservations, but the Greek veto has been pivotal in stalling the package.