The European Union’s latest sanctions package against Russia has faced strong resistance from Greece, with Athens opposing restrictions on Russian liquefied natural gas (LNG) shipping that are scheduled to fully enter into force in 2027.
The ban, approved last year, would prohibit the “purchase, import or transfer, directly or indirectly,” of LNG that originates from or is exported by Russia. However, Greece — home to the world’s largest merchant shipping fleet — is demanding changes to the legal text that would allow the transportation of Russian LNG to continue even after the ban takes effect.
The main beneficiary of such an exemption would reportedly be Dynagas, a Greek shipping company specializing in ultra-cold LNG transportation and owned by billionaire George Prokopiou. The company operates vessels, including Arctic-class icebreakers, that have been contracted for Russia’s largest gas project, Yamal LNG.
The Greek government and Dynagas argue that banning the transport of Russian LNG would harm Europe’s shipping industry, threaten jobs, strengthen foreign competitors and ultimately fail to significantly weaken Moscow’s war finances.
As the dispute continues, several possible solutions are being considered in Brussels:
Option 1: Waiting for Greece to withdraw its veto
Several EU member states have expressed frustration with Athens, arguing that Greece is attempting to reopen a decision that was already unanimously approved and could set a dangerous precedent for future sanctions.
The European Commission has maintained that the LNG ban remains valid.
“”The ban is in place and remains in place,” a Commission spokesperson said.
Brussels’ preferred solution is to continue diplomatic pressure until Greece backs down.
Option 2: Temporarily delaying the ban
If Greece continues blocking the agreement, EU countries could consider a compromise by postponing the transport ban while keeping the import ban unchanged.
Imports are considered the key issue because they provide direct revenue to Moscow. EU purchases from Russia’s Yamal LNG project reached billions of euros this year.
A temporary delay could give Greek shipping companies more time to adapt while allowing Greece to withdraw its veto and approve the sanctions package.
However, critics warn that this would only postpone the dispute.
Option 3: Granting an exemption
The most controversial solution would be to amend the legal text and allow Russian LNG transportation to continue under special conditions.
This is reportedly Athens’ preferred option — allowing Greek shipping companies to continue transporting Russian LNG to customers outside the EU, particularly in Asia.
However, Brussels has previously faced criticism over exemptions granted to countries such as Hungary and Slovakia, which have continued importing Russian oil through special arrangements.
The dispute highlights the EU’s ongoing challenge of balancing economic interests, energy security and efforts to maintain pressure on Russia over its war in Ukraine.
