Greece blocked the adoption of the European Union's 21st sanctions package, which included a ban on transporting Russian liquefied natural gas (LNG) to third countries, according to the Financial Times.
Athens is seeking to protect the shipping company Dynagas, owned by Greek businessman Georgios Prokopiou, the newspaper reported. Forbes estimates Prokopiou and his family's net worth at $4.7 billion.
According to FT sources, Greece's ambassador directly told EU colleagues that the ban on Russian LNG transit would effectively "destroy" the company. Athens' objections delayed approval of the new sanctions package by at least a week. All EU member states must support the measures for them to pass.
Dynagas operates 27 gas carriers, including vessels built for Arctic waters near the Yamal LNG plant. Since the start of 2025, the company has transported more than 10 million tonnes of Russian LNG on 11 ships, making 144 voyages, FT reported.
In addition to Dynagas, Prokopiou owns the tanker company Dynacom. According to the Financial Times, it has earned at least $915 million from transporting Russian oil over the past three years.
The EU announced the new sanctions package in early June. The restrictions are expected to include a mechanism to lower the price cap on Russian oil (currently $44.1 per barrel), sanctions against banks, cryptocurrency organizations, and the military industry. The EU is also discussing a softened version of a visa ban for Russian military personnel — the measure is expected to apply only to short-term visas and only to those directly involved in the war in Ukraine.