New Russian gas projects face sanctions if Ukraine is attacked. Proposals for them by the EU and the UK, which are being developed with the support of the U.S., will lead to a reduction in funding and technology transfer. The Financial Times writes about this.
"Britain and the EU are preparing to impose sanctions against new Russian gas projects if the Kremlin orders an attack on Ukraine. For the first time, Europe has decided to target a sector that accounts for 40 percent of its gas imports," the publication writes.
The plans, which are being drawn up with U.S. support, "would seriously reduce funding and technology transfer for new gas projects," people with knowledge of the discussion say.
The sanctions being considered reflect concerns about a possible Russian invasion of Ukraine following Moscow's deployment of more than 100,000 troops near its neighbor's border. The measures would be part of a broader package of possible economic measures, "the severity of which would be adjusted depending on the scale of any Russian offensive," people close to the discussions said.
While U.S. and European officials noted that "all options" for sanctions are being considered, some countries, such as Germany, have called for more caution as Europe grapples with a gas supply crisis over the winter, the paper noted.
Meanwhile, German Foreign Minister Annalena Berbock told the Bundestag on Thursday that the Nord Stream 2 pipeline, which is supposed to carry natural gas from Russia to Germany, is included in the package of sanctions being discussed with allies.
Cooperation between Britain and the EU on sanctions against Russia is a sign of willingness to cooperate on foreign and defense policy, despite major tensions over post-Brexit cooperation issues such as trade agreements for Northern Ireland, the paper wrote.
"Targeting new Russian gas developments is seen as a way to hit the country's core industry, potentially avoiding some of the short-term problems that Western countries would experience if energy flows were immediately interrupted," the paper said.
