"U.S. Seeks to Resume Russian Gas Supplies to Europe... EU Sanctions on Russia in Jeopardy"

"Seeking to broker an energy ceasefire between Russia and Ukraine"
EU to maintain sanctions on Russia through the end of next year

Reuters-Yonhap News

The United States is pursuing a plan to resume supplying Russian natural gas to Europe, The Wall Street Journal (WSJ) reported on Nov. 1, local time, citing multiple sources. The strategy is intended to encourage an energy ceasefire between Ukraine and Russia, but is expected to draw opposition from European countries because it could effectively undermine the European Union’s (EU) sanctions on Russia.

According to the WSJ, Jared Kushner, son-in-law of U.S. President Donald Trump, and special envoy Steve Witkoff reportedly proposed to Russia that Russian gas be resold to Europe through U.S. intermediaries when they visited Moscow and Kyiv last September. The WSJ reported that the U.S. government believes Russia would be more likely to agree to an energy ceasefire with Ukraine if it returned to the European natural gas market.

However, concerns have also been raised that the EU’s sanctions on Russia could be completely undermined. According to the WSJ, the EU’s current sanctions regulations aim to completely phase out purchases of Russian natural gas by the end of 2027. Major European countries have also made clear that they have no intention of again increasing their energy dependence on Russia, which they consider a strategic threat.

In particular, Ukraine resumed attacks on major Russian refineries on Oct. 30, despite pressure from the United States, prompting growing calls both within and outside the United States for a comprehensive energy ceasefire agreement. This is because rising fuel prices in the United States have emerged as a key issue ahead of the U.S. midterm elections.

A senior U.S. government official told the WSJ that “the White House proposed that Russia deposit the proceeds from selling gas to Europe into an escrow account under the jurisdiction of a third country.” The official said the United States is calling for a separate account to prevent Russia from using the funds to cover the costs of the war.

However, the WSJ predicted that the plan is unlikely to be implemented because of strong opposition from EU countries. A senior official from a Nordic country told the WSJ, “The idea of resuming purchases of Russian gas runs counter to all the values Europe upholds.”

Meanwhile, Russian natural gas’s share of the European market has plunged from 45% just before the outbreak of the war to 11% today. The EU is reported to have paid an additional 100 billion euros (about 150 trillion won) in energy costs since the war with Iran began.

This content was produced with the assistance of AI translation services.