India prioritizes compliance with sanctions by refusing to buy liquefied natural gas from Russia's Arctic LNG 2 project, despite seeking cheap oil and gas supplies.
India will not buy liquefied natural gas from the sanctioned Russia n project Arctic LNG 2, India ’s Oil Secretary Pankaj Jain said on Friday. “We will not buy supply from Arctic LNG 2. We are not buying any sanctioned commodity. Something which has broad-based sanctions, we are not touching it,” the official told reporters today, as carried by Reuters. The U.S. and the EU have imposed sanctions on the Arctic LNG 2 project, aiming to stifle Russia ’s revenues from oil and gas .
State Department intensified efforts to derail Arctic LNG 2 exports by targeting companies involved in the development of the project and vessels found to have loaded LNG from the facility. The project has already seen months of delays after the U.S. sanctions upended the company’s plans for production start-up and export timelines.
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