EU, UK preparing sanctions against new Russian gas projects

The new set of sanctions is reportedly being developed with the US support, and will be aimed at curtailing financing and technology transfer for future gas projects

The European Union and the United Kingdom are preparing sanctions against new Russian gas projects that will be imposed in case of a Russian invasion of Ukraine, media reported.

According to Financial Times, the new set of sanctions is being developed with the US support, and will be aimed at curtailing financing and technology transfer for future gas projects.

If introduced, these sanctions will affect European giants - such as BP, Total and Shell - which are investing in the Russian energy sector.

In the past few months, the West and Ukraine have accused Russia of concentrating troops near the Ukrainian border in alleged preparation for an invasion. Russia has repeatedly said that it has no intention of invading Ukraine, while stressing that it has the right to move forces within its own territory.