Finland's Energy Firm Gasum to Halt Russian LNG Imports amid EU Sanctions

Finland’s energy company Gasum will stop buying or importing Russian liquefied natural gas from July 26, in line with a clause with the fresh EU sanctions on Russia, which includes sanctions targeting LNG. The European Union adopted on Monday a new sanctions package against Russia, targeting Russian LNG projects and shipments for the first time and looking to curb Moscow’s use of the so-called dark fleet to circumvent the price caps on Russian crude and oil products.

To further try to restrict Russian LNG revenues, the EU also agreed to prohibit new investments, as well as the provision of goods, technology, and services for the completion of LNG projects under construction, such as Arctic LNG 2 and Murmansk LNG. Moreover, the package now bans – effective July 26 – the import of Russian LNG into specific import terminals that are not connected to the EU gas pipeline network.

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