The Foreign, Commonwealth and Development Office (FCDO) has said that it will be using its newly acquired authority to impose sanctions on two LNG-related companies and five LNG vessels.
The restrictions apply to ships that were, until recently, insured by British firms; however, the insurers severed their connections with the ships upon learning that the US had sanctioned them.
According to what News is told, the FCDO is also carefully considering whether to sanction additional LNG tankers that are transporting Russian LNG.
This comes after a The investigation also discovered that British companies continue to insure a large number of LNG vessels.
A significant portion of Russia’s income comes from the export of LNG, which benefits both domestic companies and the country’s government. The Kremlin wants to grow its worldwide LNG market share from 8% to 20%, even while many other natural resource export streams are contracting.News story from earlier this year that disclosed that a business whose LNG operations.
