EU Starts Roll-Out of Russian LNG Import Ban at a Difficult Time

Europe is beginning the roll-out of a ban on imports of Russian liquefied natural gas at a difficult time, with the war in Iran seriously disrupting global supply.

From Saturday, the European Union will prohibit purchases of Russian LNG on a short-term basis, known as the spot market. Supplies under long-term contracts can continue until the end of the year, but the ban could still create challenges.

The EU relies on Russia for about 12% of its gas needs, some of which arrives through pipelines. The spot-market ban could cut off about 2.8 million to 3.5 million tons ...