How Russia's sanctioned Arctic gas found a Chinese loophole
Mint Mumbai
|October 28, 2025
To understand how effective U.S. sanctions on Russian oil could be, look no further than the already-sanctioned Arctic gas project central to Moscow's export ambitions.
The U.S. and allies aimed to hobble Russia's energy industry, but Moscow has found workarounds.
(BLOOMBERG)
In multiple rounds of blacklisting, the Biden administration crippled the logistics, shipping and financing ecosystem around the natural-gas facility known as Arctic LNG 2, publicly aiming to leave it "dead in the water." Yet since August, Russia has managed to send 11 tankers full of liquefied natural gas from the plant, ship-tracking data show.
On the receiving end: China’s port of Beihai, a city famed for its picturesque beaches that once served as a key stop along the ancient Maritime Silk Road. Now, it has emerged as a crucial node in the export of sanctioned gas from the Russian Arctic.
"It benefits both the Chinese economy and the Russian war machine," said Alexander Gabuev, who is the director of the Carnegie Russia Eurasia Center and focuses on ChinaRussia relations. "China no longer feels the need to be overly concerned about the U.S. reaction."
The U.S. and its allies have tried to cripple Russia’s energy industry since the invasion of Ukraine, but Moscow has found loopholes time and again. The Beihai gas route has become a key channel for that effort and a means to further deepen its ties with China.
The latest sanctions came last week when the Trump administration imposed new measures on Rosneft and Lukoil, Russia’s two largest oil exporters. On the same day, the Iris, a tanker the length of nearly three football fields, docked at Beihai in southern China carrying LNG from the sanctioned Russian gas facility.
Bu hikaye Mint Mumbai dergisinin October 28, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
Zaten abone misiniz? Oturum aç
Mint Mumbai'den DAHA FAZLA HİKAYE
Mint Mumbai
Has homebuying become more affordable now?
Buying a home has become more affordable, as financing costs fall and incomes rise.
2 mins
December 25, 2025
Mint Mumbai
RBI model for US Fed
Will America's monetary policy become more like India's as AI begins to crunch jobs?
1 min
December 25, 2025
Mint Mumbai
HOW PAYMENTS BANKS EVOLVED TO SURVIVE
Payments banks are driving financial inclusion for more than 250 million users by leveraging local agents as they are trusted to provide accessible and safe banking, especially for rural women and first-time users.
3 mins
December 25, 2025
Mint Mumbai
AI revenue upturn at Accenture, TCS cannibalizes future growth
Artificial intelligence (AI) has emerged as the fastest-growing segment for large information technology (IT) services companies, but with a twist.
3 mins
December 25, 2025
Mint Mumbai
Mutual funds resist Sebi’s performance-linked fee
Mutual funds are pushing back against the Indian market regulator's proposal to introduce a fee linked to performance, arguing that continuous churn in a massive and diverse investor base makes such a calculation extremely complex.
2 mins
December 25, 2025
Mint Mumbai
IPO frenzy mints billion-dollar Esop windfall for startup staff
The surge in IPOs in 2025 turned employee stock options from largely notional rewards into real wealth, with startup employees cashing out a record $1 billion through public listings.
3 mins
December 25, 2025
Mint Mumbai
Govt-owned power firms eye exit from EESL, plan listing
Any private takers for a loss-making company owned by public sector power giants that is owed over ₹4,000 crore and has borrowed heavily to fund its investments?
3 mins
December 25, 2025
Mint Mumbai
State bond supply to surge as rural jobs’ costs escalate
Increased burden likely to drive up states’ borrowing costs, push yields higher
4 mins
December 25, 2025
Mint Mumbai
Reforms, tax cuts to pay off in 2026 if trade risks ebb
Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it.
5 mins
December 25, 2025
Mint Mumbai
Kedaara-backed K-12 Techno looks to raise $150-200 million
Kedaara Capital-backed education firm K-12 Techno Services, which operates Orchids The International School chain, is in discussions to raise $150-200 million in a fresh round, three people familiar with the matter said.
2 mins
December 25, 2025
Listen
Translate
Change font size

