The European Commission has formally requested its member states to implement new sanctions targeting Russia’s liquefied natural gas (LNG) exports. Ursula von der Leyen, the Commission’s President, stated the measures are aimed at mitigating Russia’s financial leverage and reducing its revenue streams derived from the LNG market. The sanctions will likely encompass restrictions on export licenses and financial transactions. The EU intends to use these actions as a diplomatic pressure tactic, aiming to influence Moscow’s actions in the ongoing conflict in Ukraine. The Commission anticipates a comprehensive review of the sanctions’ effectiveness.
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