Greece secures Russian LNG exemption for 1 year

EU countries reached a political agreement on the 21st package of sanctions against Russia, including a 12‑month freeze of the oil price cap at $44 a barrel and a one‑year exemption for LNG transfers to third countries, upholding solidarity with Greece.

The package granted a one-year exemption allowing EU companies to transfer Russian liquefied natural gas to third countries. The temporary exemption is valid for one year, subject to renewal, and is introduced to ensure “legal certainty.” The exemption is subject to strict reporting and volume requirements.

The exemption would allow companies from the bloc to continue transporting Russian LNG to third countries for a 12-month period that could be renewed, according to EU diplomats briefed on the decision.

The package also clarifies that the LNG terminal services ban introduced in the 20th sanctions package covers not only Russian and EU operators but also non-Russian, third-country operators that are controlled