The European Union is preparing to sharpen its sanctions regime against Russia by extending punitive measures beyond Moscow itself to include entities in Asia that facilitate its oil trade. European Commission President Ursula von der Leyen announced that the upcoming package, part of a broader strategy to constrict the flow of petrodollars sustaining Russia’s war economy, will target refineries, oil traders, and petrochemical companies in third countries, with a particular focus on Chinese and Indian firms.

This represents a significant shift in Europe’s approach, which until now had avoided measures that could antagonize major trading partners in Asia. The decision comes in the wake of sustained pressure from U.S. President Donald Trump, who has called on Europe to impose secondary tariffs on buyers of Russian oil, echoing the extraterritorial sanctions Washington has long used against Iran.

So far, the United States has managed to prevent the disruption in Qatar from turning into an outright global LNG supply shock. Record American exports have more than compensated for the drop in Qatari shipments in the first four months of 2026, allowing total seaborne LNG volumes worldwide to remain at all-time highs despite the war-related damage to Qatar’s facilities and the disruption to traffic around the Strait of Hormuz.

U.S. LNG shipments reached about 32.15 million metric tons from January through April, up 28% from a year earlier, more than offsetting the roughly 6.93 million-ton decline in Qatari loadings over the same period. Global seaborne LNG exports for that window are therefore still set to top 149 million tons, with the United States accounting for a record 18% share.

The Dutch government has announced plans to activate the “pilot light” at two stations in the Groningen gas field due to anticipated cold temperatures in the Netherlands. This decision comes despite the government’s earlier commitment, made in June, to cease production at Groningen…