ATHENS<\/strong> \u2013 Greece has voiced strong concerns over the European Union\u2019s proposed new sanctions package against Russia, warning that a ban on the transfer of Russian liquefied natural gas (LNG) could lead to a significant loss of market share for European players to non-EU competitors.<\/p>\n Greek government officials stated on Friday, July 17, 2026, that the country \u2014 a global leader in LNG carrier shipping \u2014 objected to certain terms in the EU\u2019s 21st sanctions package, which failed to gain consensus on Wednesday.<\/p>\n Along with Austria and others, Greece raised objections during discussions, leading EU envoys to postpone further talks until July 23. The price cap on Russian oil remains unchanged at $44.10 per barrel in the interim.<\/p>\n \u201cFrom Athens\u2019 perspective, any new package of restrictive measures must be carefully calibrated to maximise pressure on Moscow while minimising unintended consequences for European businesses, consumers, and competitiveness,\u201d one Greek official told Reuters on condition of anonymity.<\/p>\n The official added: \u201cEurope should not end up surrendering entire sectors of economic activity or market share to non-EU players as an unintended consequence of its own sanctions policy. Sanctions should erode Russia\u2019s economic capacity \u2013 not create strategic windfalls for others at Europe\u2019s expense.\u201d<\/p>\n Greece dominates Europe\u2019s LNG carrier market and ranks among the world\u2019s top players, competing directly with fleets from Japan, China, and the United States. Lithuanian Foreign Minister Kestutis Budrys noted earlier this week that EU nations remain divided on tightening restrictions on Russian LNG.<\/p>\n The development highlights ongoing tensions within the bloc over balancing geopolitical pressure on Russia with the protection of European economic interests and energy security.<\/p>\n Source: Reuters \/ Greek government statements<\/em><\/p>\n![\"\"](\"https:\/\/greekcitytimes.com\/wp-content\/uploads\/2026\/05\/158662.webp)
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