EU spent €8.7bn on Russian Arctic LNG in 2026, as import ban looms
AI Summary
The European Union spent €8.7 billion on Russian Arctic LNG in 2026, remaining a major customer of the Yamal project despite its stated aim of ending reliance on Russian fossil fuels. The spending comes as an EU import ban is looming.
The EU is still the main customer of one of Russia's flagship Arctic gas projects, the Yamal pipeline, despite Brussels repeatedly touting the end of reliance on Russian fossil fuels.
Politics Markets Commodities Energy Shipping Russian LNG EU imports Yamal Arctic import ban fossil fuels