Despite repeated pledges to cut economic ties with Moscow, European buyers have paid an estimated €7.28 billion for liquefied natural gas from Russia's Arctic Yamal project in just over eight months of 2026, already exceeding the €7.3 billion spent in all of 2025. The figures, compiled by the German environmental NGO Urgewald, highlight a widening gap between political rhetoric and commercial reality.
Between January and August, European ports received 156 Yamal LNG cargoes carrying 11.39 million tonnes, compared with 142 cargoes and 10.34 million tonnes in the same period last year – a 10.1% increase. Real-time data from market intelligence firm Kpler shows that European destinations absorbed 88.9% of Yamal's total global exports between 1 January and 5 September, up from 78.2% in 2025.
“This is a sign that EU buyers are maximising imports ahead of the January 2027 ban. Most of these volumes are from existing long-term contracts, as LNG from short-term contracts was banned in April this year,” said Charles Costerrouse, Kpler's energy analyst.
European shipping firms at the heart of Arctic trade
The trade is underpinned by European logistics. Glasgow-based Seapeak and Greek-linked Dynagas dominate the Arctic shipping network, with their vessels managing 72% of all Yamal LNG exports. Six Arc7 ice-class tankers tied to Seapeak carried 65 cargoes (4.73 million tonnes) between January and August, while Dynagas vessels moved another 62 cargoes (approximately 4.5 million tonnes).
“Europe says it is moving away from Russian energy. These figures show the opposite,” said Alexander Kirk, senior campaign manager at Urgewald. “The EU took 10% more Yamal LNG and almost 9 out of every 10 tonnes the project exported during the first eight months of the year.”
France was the top importer with 4.4 million tonnes, followed by Belgium (3 million), Spain (2.7 million) and the Netherlands (1.1 million). The surge comes as European leaders gather in Rovaniemi, Finland, for the European Arctic Summit, and as diplomats in Brussels negotiate the EU's 22nd sanctions package – with Greece having secured an exemption from a full ban on Russian LNG.
The timing is sensitive. The EU's official ban on Russian LNG imports and maritime services is scheduled to take full effect on 1 January 2027. Energy analysts say the current buying spree is driven by a combination of higher European gas prices and increased volumes, as the war in the Middle East disrupted a key energy trade route through the Strait of Hormuz.
Russia's Arctic operations are heavily dependent on European ports. Because Arctic waters freeze over for most of the year, Moscow relies on 15 specialised Arc7 ice-class tankers to cut through the ice. Short journeys to European ports allow these vessels to quickly drop off fuel and return to Siberia. If forced to sail to Asia during winter, the trip would take weeks longer and Russia's total gas exports would collapse.
In August 2026, Yamal split its exports almost equally: seven cargoes (497,945 tonnes) went to Europe, while seven (493,855 tonnes) went to Asia. But that balance is temporary. By December, the frozen eastern route to Asia becomes impassable for direct shipments, pushing Russia back toward European waters.
Campaigners argue that European utilities are directly funding the Kremlin's war chest. “They cannot ignore that EU money, ports, and maritime services are helping one of Putin’s flagship Arctic energy projects enjoy a bumper year,” warned Sebastian Rötters, sanctions campaigner at Urgewald.
With the 22nd sanctions package under negotiation, activists are demanding an immediate ban on servicing the Arc7 fleet and a strict embargo on selling specialised LNG tankers to Russian entities. The stakes are high: without European cooperation, Russia's Arctic energy ambitions would face unprecedented pressure.
