Moscow Seeks Energy Buyers; US Imposes New Sanctions on Russian Gas in the Arctic

On Thursday, September 6, the United States imposed new sanctions against ships transporting Russian gas from the 'LNG 2' terminal in the Arctic region of Murmansk, Russia. According to the US State Department, the sanctions target the owners of two LNG tankers, 'New Energy' and 'Moulan', as it has been proven that these tankers used deceptive shipping methods, including turning off their automatic identification systems, to load Russian gas shipments in the Arctic, which are subject to US sanctions. This new sanction comes as investigations show that Russia, amid escalating Western sanctions that have forced Moscow to store gas on a large container ship in the Arctic, is seeking buyers for its liquefied natural gas. The 'LNG 2' Arctic project was expected to produce approximately 19.8 million tons of liquefied gas annually to be sold primarily in Asian markets, generating billions of dollars for 'Novatek', the private company executing the project, as well as for the Kremlin. Western countries, led by the United States and its allies, have imposed extensive sanctions on Russia due to its military invasion of Ukraine in February 2022, and the Kremlin has continuously sought ways to circumvent these sanctions. Dmitry Peskov, the Kremlin spokesperson, told reporters in spring 2024, 'Efforts to push Russia out of energy markets and turn to more expensive markets continue, but Moscow will seek ways to overcome these obstacles and illegal actions.' These sanctions have allowed the Islamic Republic, which has a good relationship with Russia and has provided military assistance to Moscow in the war against Ukraine, to also offer assistance in this matter, sharing its decades-long experience in circumventing sanctions with Vladimir Putin's government. Additionally, New Zealand has sanctioned several individuals and entities linked to the Iranian government for supporting Russia in the Ukraine war. Two US senators have called for countering the misuse of cryptocurrencies by the Iranian and Russian governments to evade sanctions. The Islamic Republic's use of two British banks to circumvent sanctions has led to a drop in the shares of 'Lloyds and Santander'. A Voice of America investigative report discussed the transfer of electronic components for the construction of Shahed drones in Russia. The US State Department stated that it is monitoring economic cooperation between Iran and Russia.