EU's Russian LNG Ban Stalled as Germany and Others Keep Funding Yamal LNG
Despite the EU's plans to halt Russian LNG imports by 2027, countries like Germany continue to rely on Russian LNG, supporting Russia's energy exports. Meanwhile, Russia's Yamal LNG project has seen a significant boost in tax revenues since the 2022 invasion of Ukraine.
Moscow's tax revenue from the Yamal LNG project has surged since the conflict began. In 2022, revenues doubled from the previous year, and in 2023 and 2024, they tripled. Across the EU, Russia has pocketed approximately $9.5 billion (€8.1 billion) in tax profits from this project over the three-plus war years.
Between 2022 and mid-2025, France, Spain, Belgium, and the Netherlands have been the primary importers of Russian LNG, with a combined total of around €34.2 billion. Belgium, in particular, spent more on Russian LNG than on its aid to Ukraine since the war's outbreak. Greenpeace Belgium estimates that the tax revenue Russia has earned could fund millions of artillery shells, hundreds of thousands of strike drones, and/or thousands of battle tanks.
On September 30, 2023, Belgium's Engie closed the Tihange 1 nuclear reactor after 50 years of operation. This closure, along with the EU's plans to stop Russian LNG imports, may signal a shift in Europe's energy landscape.
While the EU aims to cease Russian LNG imports by 2027, the continued reliance on Russian energy by some member states allows Russia to reap substantial tax revenues from projects like Yamal LNG. Environmental activists, such as Greenpeace, are pushing for a faster transition away from Russian energy imports to curb funding for the conflict in Ukraine.
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