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Greece has delayed the European Union's latest round of sanctions against Russia, arguing that the proposed measures would severely damage a major Greek shipping company that transports Russian liquefied natural gas (LNG).
According to the Financial Times, Athens is objecting to plans that would ban the transport of Russian LNG to countries outside the EU. Greek officials say the move would effectively cripple Dynagas, the shipping company owned by billionaire George Prokopiou, whose fleet includes highly specialized ice-breaking tankers designed to operate in the Arctic.
The dispute has stalled the EU's 21st package of sanctions for more than a week. The package also includes tougher measures targeting Russian banks, cryptocurrency networks, and companies linked to Moscow's military industry.
Greece reportedly told fellow EU member states that Dynagas relies heavily on transporting LNG from Russia's Yamal LNG project in the Arctic and that its ships cannot easily be used for other routes. Officials warned that if the ban goes ahead, the company could be forced to sell its vessels, potentially to buyers outside the West.
The delay has also complicated talks on tightening the EU's price cap on Russian oil, a key measure aimed at limiting the Kremlin's energy revenues.
The standoff highlights the difficult balancing act facing many European countries. While the EU is trying to increase economic pressure on Russia over the war in Ukraine, some member states are also trying to protect industries that could suffer significant financial losses.
Source: Financial Times
