EU Imports of Russian LNG Plummet Amid Rising Sanctions

EU imports of Russian liquefied natural gas (LNG) have plummeted by 46% in August, hitting their lowest monthly level since Russia's full-scale invasion began in 2022.

The decline is largely attributed to Belgium, which halted its imports of Russian LNG in August. In July, 100% of Belgium's LNG imports came from Russia. Following Belgium's decision, France, Spain, and the Netherlands remain the only importers of Russian LNG in the EU.

French ports accounted for 57% of total EU LNG imports in August, with TotalEnergies being the primary energy company responsible for these imports. The company has an LNG import contract that will expire at the end of 2026.

Despite the continued reduction in imports of Russian fossil fuels, the EU remains the largest buyer of Russian LNG, accounting for nearly half of Russia's total LNG exports, a significant 49% share, compared to China's 24%. This dependence on key customers is seen as a sign of Moscow's reliance on a narrow set of markets.