Europe's €7 Billion LNG Tab: A Contradiction to Sanctions Against Russia

European nations have paid an estimated €7.28 billion for liquefied natural gas (LNG) from Russia's Arctic Yamal project in just eight months this year, surpassing their total expenditure of €7.3 billion in all of 2025.

This significant increase is attributed to a perfect storm of higher European gas prices and increased cargo volumes due to the war in the Middle East disrupting a key energy trade route through the Strait of Hormuz.

According to data from Kpler, between January 1 and September 5 this year, European ports swallowed 88.9% of Yamal's total global exports, up from 78.2% in 2025.

The EU has been accused of 'maximising imports ahead of the January 2027 ban' on Russian LNG imports, with most volumes coming from existing long-term contracts.