HomeNewsGreece-based Dynagas allowed to carry Russian LNG under new EU sanctions

Greece-based Dynagas allowed to carry Russian LNG under new EU sanctions

7/23/2026

Greece-based LNG carrier operator Dynagas will be allowed to continue carrying Russian liquefied natural gas under new sanctions against Moscow set to be agreed on by EU countries, the Financial Times reported on Wednesday, according to three diplomats briefed on the negotiations.

Here are some details:

  • The deal, which is yet to be approved by the EU envoys on Thursday, would allow companies from the bloc to continue transporting Moscow's LNG exports to third countries for a 12-month period that could be renewed. However, volumes would be capped at 2025 levels, the FT said.
  • The countries are also due to sign off on extending a price cap on Russian oil at $44.10 a barrel for a year as they look to continue restricting Moscow's fossil-fuel revenues, the report added.
  • Greece dominates Europe's LNG carrier market and is among the biggest players globally, competing with Japan, China and the United States.
  • Last week, two Greek government officials told media that EU sanctions against Russia risk ceding LNG market share to rivals.
  • EU ambassadors failed on Wednesday to agree on a 21st package of sanctions against Russia over its invasion of Ukraine, an EU diplomat told media.
  • The new package targets Russia's banking sector in an effort to squeeze Moscow's financial system at what the EU sees as a vulnerable time.

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