The European Union exempted Sakhalin-2 from compliance with the price ceiling mechanism
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EU authorities have exempted the Russian Sakhalin-2 project from the need to comply with the price ceiling mechanism until June 28, 2024. This was reported in the Official Journal of the EU.
This mechanism, which provides for price caps for certain projects of strategic importance for the energy security of certain third countries, is used to ensure price control.
In this case, the EU made this decision to ensure Japan’s energy security.
Let us recall that as part of the eighth sanctions package, adopted in October 2022, the EU exempted oil supplies from Sakhalin-2 to Japan from sanctions.
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