Finance
Russia Says It Will Shift to New Markets for Its Lng, EU 'shooting Itself in the Foot'
Published by Global Banking & Finance Review®
Posted on March 20, 2026
2 min readLast updated: March 20, 2026
Quick Summary
Russia says it will pivot to developing new LNG markets like Asia if they’re more attractive, criticizing the EU’s decision to phase out Russian LNG as self-harming amid surging EU purchases.
Kremlin says EU's LNG plan is self-defeating, Russia will find new markets
Russia Responds to EU's LNG Import Ban Plans
Kremlin Criticizes EU Policy
MOSCOW, March 20 (Reuters) - The Kremlin said on Friday that the European Union was harming its own interests by sticking to a plan to end imports of Russian liquefied natural gas by the end of the year, and Russia would switch to new markets for its LNG and other energy exports.
EU's Commitment to Halting Russian LNG Imports
European Commission President Ursula von der Leyen said earlier that the bloc was committed to its "clear targets" on halting Russian LNG imports, rejecting the idea it might revise them because of rising energy costs due to the war in the Middle East.
Kremlin's Reaction and Alternative Markets
Asked about her remarks, Kremlin spokesman Dmitry Peskov said Russia could find alternative buyers.
Focus on New and Growing Markets
"Russia must and will do what best serves its interests and advantage. And if it is recognised that alternative markets, new growing markets that very much need energy resources - gas, LNG, oil and petroleum products - if these markets are more attractive, then, of course, there will be a complete focus on these markets," he said.
"The Europeans continue to shoot themselves in the foot, or rather, shoot their voters in the foot."
Background: EU-Russia Energy Relations
Changes in Gas Imports Since Ukraine War
Before the Ukraine war, Europe was buying more than 40% of its gas from Russia, but combined sales of pipeline gas and LNG from Russia accounted for only 13% of total EU imports in 2025.
Future of Russian Energy Exports to Europe
The EU plans to stop Russian LNG imports by the end of 2026 and pipeline gas imports by September 30, 2027. But President Vladimir Putin suggested earlier this month that Russia might pre-empt that by cutting those exports off now.
Reporting Credits
(Reporting by Anastasia Lyrchikova; Writing by Mark Trevelyan; Editing by Hugh Lawson)
Key Takeaways
- •Russia is preparing to redirect its LNG exports to emerging markets if EU demand collapses, leveraging discounted pricing to remain competitive.
- •Despite EU plans to phase out Russian LNG by 2026–2027 under its REPowerEU roadmap, imports actually rose in 2024, with Europe remaining a major buyer.
- •EU targets aim for a full ban on Russian LNG imports by end‑2026/early‑2027, but enforcement challenges and internal resistance—especially from major importers—complicate implementation.
Frequently Asked Questions about Russia says it will shift to new markets for its LNG, EU 'shooting itself in the foot'
1Why is Russia shifting its LNG exports to new markets?
Russia plans to shift LNG exports to new markets if they are attractive due to the EU's plan to stop importing Russian liquefied natural gas.
2What is the Kremlin's response to the EU's Russian LNG import ban?
The Kremlin criticized the EU, saying it is 'shooting itself in the foot' by ending Russian LNG imports.
3Which markets could become new destinations for Russian LNG?
The article suggests Russia will target growing new markets outside the European Union that prove attractive for its LNG exports.
4What action is the European Union taking regarding Russian LNG?
The European Union plans to stop importing Russian liquefied natural gas due to ongoing geopolitical tensions.
