Greece has opposed the proposed 21st package of European Union sanctions against Russia. Athens primarily rejects the ban on the transportation of Russian liquefied natural gas (LNG) to third countries, which it believes could seriously threaten the Greek shipping company Dynagas.
The ambassadors of the member states of the European Union failed to reach an agreement on Wednesday, July 15th, regarding the details of the new anti-Russian measures. According to the Financial Times newspaper, further negotiations have been postponed until July 23rd. During the meeting, the Greek representative reportedly warned that a ban on the maritime transport of Russian LNG could effectively destroy the company Dynagas.
The company, owned by Greek shipping magnate George Prokopiou, specializes in transporting liquefied gas from the Yamal LNG plant in the Arctic. According to figures cited by the Financial Times, it operates 27 LNG tankers. Approximately one-third of the available ice-class Arc7 vessels are also part of its fleet.
These ships have reinforced structures and are designed for operation in extreme arctic conditions. The price of a single specialized tanker can reach up to $300 million. Some of these vessels can break through ice more than two meters thick, and long-term charter agreements were concluded for the Yamal LNG project.
According to FT, Greece argues that tankers cannot simply be redirected to regular trade routes. Therefore, the adoption of sanctions in the proposed form could force Dynagas to sell its specialized vessels to companies outside Western countries. Such an outcome, according to Athens, would harm a European company without depriving Russia of the necessary transport capacity.
The dispute over Greek ships is part of broader disagreements within the European Union. The head of EU diplomacy, Kaja Kallas, confirmed on July 13th that there are still open questions among member states. The negotiations concern, in particular, a ban on maritime services and further tightening of restrictions related to Russian LNG.
The European Union is trying to limit Russia's energy revenues. However, in the first half of 2026, member states withdrew gas from the Yamal LNG project with an estimated value of nearly six billion euros. Imports of Russian LNG into the EU increased by 11 percent year-on-year from January to May, while pipeline gas imports rose by seven percent.
Previous sanctions packages have already banned certain services for Russian LNG tankers, the use of European terminals by Russian entities, and the import of Russian LNG into the EU. The new proposal aims to close further loopholes and also target Russian banks, cryptocurrency services, and the military-industrial complex.