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Market Chatter: Dynagas Secured Exemption for Russian LNG Transport in New EU Sanctions Deal

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The EU agreed on a new sanctions package against Russia, granting Greek shipper Dynagas a 12-month exemption to continue transporting Russian LNG in exchange for extending an oil price cap, the Financial Times reported on Thursday.

In exchange, Greece agreed to extend a price cap on Russian oil at $44.10 a barrel for another year, averting an automatic price hike triggered by global crude trading above $95 a barrel amid ongoing US-Iran conflict and disruptions in the Strait of Hormuz, the report said.

The package also targets additional Russian banks, crypto networks, and military-industrial entities, overcoming weeks of delays caused by Athens demanding exemptions for pre-invasion contracts tied to billionaire George Prokopiou's fleet, the report added.

None of the parties involved responded immediately to' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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