On 24 June 2024 the EU Council adopted the 14th package of sanctions against Russia, which includes its first measures targeting Russia’s liquefied natural gas (LNG) sector, further export-related restrictions, sanctioning of vessels and new anti-circumvention measures, such as a requirement for EU companies to undertake best efforts to ensure that non-EU subsidiaries in third countries comply with EU sanctions.
These measures are contained in (i) Council Regulation 2024/1745 which amends Regulation (EU) No. 833/2014 and (ii) Council Regulation 2024/1746 which amends Regulation (EU) No. 269/2014.
Restrictions on the LNG sector
The EU has introduced its first restrictions on Russian LNG (i.e., which originates in Russia or has been exported from Russia) with the aim to prevent Russian LNG that is not consumed in the EU from entering the EU or being transported to third countries via EU ports. It also introduces reporting obligations for entities “performing unloading operations” and imports into the EU of Russian LNG to the respective competent authority of the EU member state by 26 July 2024 and every month thereafter.
Full advisory at the following link.
https://north-standard.com/insights/circulars/eu-adopts-14th-sanctions-package-against-russia/