FT: The EU and Britain are developing sanctions against new gas projects in Russia because of Ukraine They will affect new Russian projects in the gas sector, reducing funding and technology supplies. At the same time, the FT writes that damage can also be done to Western companies that invest in projects in Russia
The EU countries and the United Kingdom, with the support of the United States, are developing a package of sanctions against new Russian gas projects, which can be activated in the event of an invasion of Ukraine, the Financial Times writes, citing sources.
According to her, the measures are aimed at to seriously cut funding and supply of technology for new Russian projects in the gas sector. The interlocutors of the publication argue that this package of measures will be part of larger economic sanctions. Their degree of severity will be adjusted depending on the scale of the “Russian offensive”.
The FT reports that this is the first time that Europe has admitted the possibility of hitting the gas sector, in which 40% of the fuel comes from Russia.
However, such sanctions could also harm Western companies, including BP, Total and Shell who invest in Russian gas projects, the newspaper writes. She recalls that the French Total, for example, is one of the largest investors in the development of fields in the Yamal, and last year Shell signed a five-year agreement with Gazprom.
The US and EU have already declared their readiness to impose sanctions against the Nord Stream 2 gas pipeline, which runs from Russia to Germany, in the event of an escalation in Ukraine. “I want to be very clear: if Russia invades Ukraine one way or another, the deal with Nord Stream 2 won't move forward,— State Department spokesman Ned Price. A similar statement was made by Undersecretary of State Victoria Nuland.
German Foreign Minister Annalena Burbock also said that the EU has a “wide range of responses.” in the event of a Russian invasion of Ukraine, including responses on Nord Stream 2.
On Thursday, Gazprom reported that more than three-quarters of the gas injected there in the summer had already been taken from underground storage facilities in Europe (data as of January 25). In general, European storage facilities are 40.9% full, while German and French— by 39%, according to the company.
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