Greece Blocks EU Sanctions Over Shipping Company Concerns
Greece has opposed the European Union’s latest sanctions package against Russia, citing concerns that a proposed ban on transporting Russian liquefied natural gas (LNG) to third countries would jeopardize the shipping company Dynagas, which specializes in this trade. The Greek representative argued that such a measure could effectively destroy Dynagas’s business, as its specialized Arc7-class icebreaking tankers are virtually impossible to redeploy elsewhere. This objection has delayed the adoption of the 21st sanctions package, which also includes measures against Russian banks, cryptocurrency networks, and the military-industrial complex, and a new oil price cap mechanism. Negotiations continue as EU member states weigh the economic impact of sanctions against the necessity of increasing pressure on Moscow.
John Q. Hosedrinker