EU plans to phase out Russian LNG more quickly after Trump push – report
Trump’s lobbying efforts appear to be working, according to this report from Bloomberg.
The European Commission, the bloc’s executive arm, is considering including a provision in its new sanctions package to phase out imports of all Russian LNG earlier than the end of 2027, which was the EU’s initial plan, according to people familiar with the matter.
In terms of strategy, it looks like Trump is gearing up for a longer war with Russia that’s focused on weakening Russia’s economy.
Oil prices are also falling further on this as Europe isn’t cutting out Russian oil.
This report is also bullish for global LNG producers, including in the US, who will benefit from higher prices if Russian exports are cut.
