Greece seeks to adjust the European Union's ban on Russian liquefied natural gas to preserve global shipping opportunities.
Greece is pushing to modify the European Union's upcoming ban on Russian liquefied natural gas (LNG), which is set to take full effect in 2027. While the bloc originally agreed to prohibit the purchase and import of Russian LNG, Greece wants to insert an exemption allowing the transport of the gas to non-EU clients worldwide. The coastal nation argues that a total ban on transport is inefficient, as Moscow will likely sell its gas to other markets, such as China, regardless of whether Europe carries it. This move is driven largely by the interests of Dynagas, a shipping company owned by Greek billionaire George Prokopiou. The firm currently operates 11 vessels at Russia's Yamal facility and fears that a full ban would result in a self-inflicted blow to maritime capacity and strategic influence. Other EU member states have expressed frustration with the Greek proposal, noting that the bloc had previously reached a unanimous agreement. The dispute has also delayed the scheduled price cap adjustment for Russian oil, as diplomats work to balance economic interests with geopolitical goals.