Belgium Plunges into All-Out Dependence on Russia for LNG Amid Iran War

Belgium's reliance on Russia for liquefied natural gas imports reached an all-time high in July, according to recent data. The country became wholly dependent on Russia due to a slump in supply caused by the ongoing Iran war, which disrupted shipping through the Strait of Hormuz.

Most European buyers have been holding off from purchasing LNG for winter stockpiling due to high gas prices resulting from the disruption. This has led to a significant increase in Belgium's dependence on Russia, making it the country's sole supplier last month.

Belgium is not alone in its reliance on Russian LNG; many European countries are facing similar challenges due to the war and related shipping disruptions.