The warning comes after EU ambassadors failed on 15 July to reach agreement on a 21st package of sanctions against Russia over its war in Ukraine, Reuters reports. Greece and Austria were among the countries that objected to elements of the package, although for different reasons, two sources familiar with the talks said.
At the centre of Greece’s concerns are proposed restrictions on Russian LNG, as the country is a dominant force in Europe’s LNG shipping sector and ranks among the world’s largest operators of LNG carriers, competing with fleets from Japan, China and the United States.
Reportedly, from the Greek perspective, any new package of restrictive measures must be carefully calibrated to maximise pressure on Moscow while minimizing unintended consequences for European businesses, consumers and competitiveness.
“Europe should not end up surrendering entire sectors of economic activity or market share to non-EU players as an unintended consequence of its own sanctions policy,” a Greek official said to Reuters. “Sanctions should erode Russia’s economic capacity—not create strategic windfalls for others at Europe’s expense.”
EU envoys have postponed discussions on the sanctions package until July 23, leaving the bloc’s price cap on Russian oil unchanged at $44.10 per barrel while negotiations continue.
Source: Safety4sea
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