Economy / FinanceAsiaEuropeRussia

Sean Foo: EU’s Russian LNG and SWIFT Ban will Backfire and Benefit China


As the economic war between the West and Russia intensifies, Europe has imposed a series of harsh economic sanctions on Russia. These penalties include a ban on the transshipment of Russian liquified natural gas (LNG) and the restriction of their financial payments system, the System for Transfer of Financial Messages (SPFS). However, while these measures are intended to harm Russia’s economy, it is China that is set to reap the benefits, particularly in their industries. Firstly, let’s take a look at how Europe’s sanctions will affect Russia. The ban on LNG transshipment is expected to significantly impact Russia’s energy exports….

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