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Italy Aligns with Proposed EU Sanctions on Russian Gas Supply

by Daisy Mae D.
04/28/2024
in Compliance, Sanctions

Italy has signaled its support for proposed EU sanctions targeting Russian liquefied natural gas (LNG) in response to the country’s invasion of Ukraine. Gilberto Pichetto Fratin, spokesperson for the Italian Ministry of Energy, confirmed Italy’s willingness to comply with the proposed measures, as reported by Politico.

Once heavily reliant on Russian gas, Italy has swiftly diversified its energy sources, reducing its dependence on Russian imports. Recent efforts include the construction of a pipeline from Algeria and expanding LNG import capacity. Official figures indicate that Russian gas accounted for less than 5% of Italy’s total gas imports last year, down from 43% in 2020.

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Pichetto Fratin emphasized Italy’s readiness to operate without Russian gas, highlighting the nation’s ample gas reserves. Consequently, Italy has expressed no objections to the proposed EU sanctions targeting Russian LNG.

This stance mirrors broader EU efforts to impose sanctions on Russia in response to its actions in Ukraine. Previous statements from Swedish Foreign Minister Tobias Billstrom have hinted at restrictions on the transportation of Russian oil, while Valdis Dombrovskis, Vice President of the European Commission, has confirmed ongoing efforts to develop additional sanctions, including measures targeting oil transportation.

Media reports suggest that these sanctions may include restrictions on tankers transporting Russian oil, particularly those evading existing sanctions. Italy’s alignment with these measures underscores its commitment to compliance with EU sanctions policy.

Discover comprehensive supply chain report news insights at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#ItalyEUAllianceGasSanctions#EuropeanSanctionsOnRussianGas#EnergySecurityItaly#DiversifiedGasSupply#GeopoliticalEnergyShift#SupplyChainNews

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