A gravity platform for the production of liquefied gas at the center for the construction of large-tonnage offshore structures of Novatek-Murmansk company stands in the village of Belokamenka in the Murmansk region, Russia, in 2023. The European Union passed new sanctions against Russia Thursday but allowed a carve-out for Greece to continue shipping Russian LNG to other countries. File Photo by Alexey Babushkin/EPA
The European Union passed new sanctions against Russia, but added a carveout for Greece to keep shipping Russian gas to other countries.
The EU reached the deal to add pressure on Russia’s “war machine,” the bloc said in a statement, creating the largest sanction package in four years. It also adds new measures targeting war crimes, internal repression and malicious cyber activities.
The deal included a proposed ban on shipping Russian gas outside of the EU, but Greece objected because of contracts Greek companies have had in place since 2015, Politico reported. The carve-out blocks EU countries from signing new shipping deals but allows Greece to continue its contract, two EU diplomats said.
The EU also agreed to freeze its price cap on Russian crude oil for a year. The cap is now at $44.10 per barrel and was about to rise to about $58 per barrel in response to fighting in Iran. It’s recalculated every six months.
Analysts are skeptical that these sanctions will do much to curb Russia because the natural gas sales through Greek shipping are lucrative.
“It is difficult to see how this will significantly disrupt Dynagas’ current Yamal operations or the revenues they help generate for Russia,” said Alexander Kirk, a strategic communications specialist in energy security at the German environmental firm Urgewald.
Greek shipping company Dynagas handled about 35% of imports from Russian liquid natural gas company Novatek in the first half of 2026. Dynagas has chartered 11 vessels, including seven Arctic-resistant icebreakers, to Russia’s largest gas facility, Yamal LNG, in Sabetta, Siberia, Russia, on the Kara Sea.
European Commission President Ursula Von Der Leyen posted on Bluesky: “I welcome the agreement on the 21st sanctions package against Russia. At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort. We’re adding 32 more Russian banks to our transaction ban list.”
The sanctions will also make it more difficult for people who served in the Russian military to enter the EU. Some EU states wanted a blanket ban, but they decided implementation would be too challenging.
Historic July moments through the years
Astronaut Buzz Aldrin walks on the surface of the Moon during the Apollo 11 mission on July 20, 1969. Photo by NASA/UPI | License Photo
