Greece-based Dynagas allowed to carry Russian LNG under new EU sanctions, FT says

Greece-based Dynagas allowed to carry Russian LNG under new EU sanctions, FT says

However, volumes would ​be capped at 2025 levels.

Greece-based LNG carrier operator Dynagas will be allowed to continue carrying Russian liquefied natural gas under ​new sanctions against Moscow set to be agreed ‌on by EU countries, the Financial Times reported on Wednesday, according to three diplomats briefed on the negotiations.


Here are some details:

  • The deal, which ​is yet to be approved by the EU ​envoys on Thursday, would allow companies from the bloc ⁠to continue transporting Moscow's LNG exports to third countries ​for a 12-month period that could be renewed. However, volumes would ​be capped at 2025 levels, the FT said.
  • The countries are also due to sign off on extending a price cap on Russian oil ​at $44.10 a barrel for a year as they look to ​continue restricting Moscow's fossil-fuel revenues, the report added.
  • Reuters could not immediately verify ‌the ⁠report. Dynagas and the EU were not immediately available for comment outside business hours when contacted by Reuters.
  • Greece dominates Europe's LNG carrier market and is among the biggest players globally, ​competing with Japan, ​China and ⁠the United States.
  • Last week, two Greek government officials told Reuters that EU sanctions against Russia risk ceding LNG ​market share to rivals.
  • EU ambassadors failed on Wednesday to ​agree ⁠on a 21st package of sanctions against Russia over its invasion of Ukraine, an EU diplomat told Reuters.
  • The new package targets Russia's ⁠banking ​sector in an effort to squeeze ​Moscow's financial system at what the EU sees as a vulnerable time.


Reporting by ​Natalia Bueno Rebolledo in Mexico City; Editing by Nia Williams