The European Union may allow European companies to continue shipping Russian liquefied natural gas to third countries for 12 months as part of a compromise to unblock the 21st sanctions package against Russia, the Financial Times reported, citing diplomats. The permission could be extended, and transport volumes would be capped at 2025 levels.
The deal still requires approval from EU ambassadors, whose meeting on Wednesday failed to reach an agreement; they are set to reconvene on Thursday, Reuters reported.
Greece is seeking exemptions from already agreed restrictions on Russian LNG supplies, protecting the shipping company Dynagas, owned by billionaire Georgios Prokopiou. According to the maritime portal Equasis, Dynagas operates 27 gas carriers, including a third of the global fleet of Arc7 ice-class tankers built for Arctic waters at the Yamal LNG plant. Since the start of the year, the company has transported more than 10 million tonnes of Russian LNG on 11 vessels, completing 144 voyages, the FT specified.
Because of Greece's stance, the new sanctions package has been delayed by more than a week. Sanctions against Russian banks, cryptocurrency networks, and defense industry enterprises remain in limbo. A package adopted in October 2025 banned the transport of Russian LNG to third countries from the end of 2026 — Greece demanded an exemption from that measure as well.
A senior EU official called the proposed deal "outrageous," the FT wrote. Additionally, EU countries must approve a one-year extension of the $44.10-per-barrel price cap on Russian oil; without a new decision, the cap would automatically rise in line with the market, which this week exceeded $95 per barrel amid escalating tensions between the U.S. and Iran.