FT: EU to let Greek company keep shipping Russian gas to win approval for new sanctions package
Greek shipping company Dynagas will be allowed to continue transporting Russian liquefied natural gas (LNG) despite EU sanctions, the Financial Times reported, citing European diplomats. The decision still needs approval from EU ambassadors.
The European Union is set to allow Greek shipping company Dynagas to keep transporting Russian liquefied natural gas (LNG) in order to secure member states' approval for its 21st sanctions package against Russia, the Financial Times reported, citing European diplomats.
The sanctions package, unveiled in June, initially included a ban on EU companies shipping Russian LNG to third countries. However, Greece blocked the package's approval on July 15 to protect Dynagas, owned by Greek billionaire George Prokopiou. Athens representatives directly stated that the ban would effectively ruin the company.
Under the proposed compromise, European companies would be allowed to continue shipping Russian LNG to third countries for 12 months, with a possibility of extension. The decision still requires approval from EU ambassadors.
Dynagas operates 27 LNG carriers, including ice-class vessels built for Arctic waters near the Yamal LNG plant. Since the start of 2025, the company has transported over 10 million tons of Russian LNG using 11 vessels, completing 144 voyages.
