{"id":35370,"date":"2026-07-14T00:01:50","date_gmt":"2026-07-14T00:01:50","guid":{"rendered":"https:\/\/investmentbankingrules.com\/?p=35370"},"modified":"2026-07-14T00:01:50","modified_gmt":"2026-07-14T00:01:50","slug":"europe-bankrolls-putins-war-machine-even-as-nato-races-to-bolster-defenses","status":"publish","type":"post","link":"https:\/\/investmentbankingrules.com\/?p=35370","title":{"rendered":"Europe bankrolls Putin\u2019s war machine even as NATO races to bolster defenses"},"content":{"rendered":"<p>Even as NATO allies increase defense spending, arm Ukraine and impose sanctions aimed at weakening the Kremlin, European Union countries haven\u2019t yet been able to shake dependence on Russian liquefied natural gas, providing Russia with a key source of revenue as it wages war in Ukraine.<br \/>\nA new analysis of commercial shipping data shows European countries spent billions in the first half of 2026 on purchases of Arctic liquefied natural gas. Environmental watchdog Urgewald, using trade intelligence platform Kpler shipping data, found that 136 cargoes of the 140 cargoes exported from Russia\u2019s flagship Yamal liquefied natural gas project between January and June were delivered to European Union ports.\u00a0<br \/>\nChina, once viewed as a major market for the Arctic project, received just four cargoes during the same period, the analysis found.\u00a0<br \/>\nThe group estimated those shipments were worth roughly \u20ac5.96 billion, or about $6.8 billion, based on benchmark European natural gas prices.<br \/>\nDRONE OFFENSIVE HITS RUSSIAN OIL TANKERS AND REFINERIES AT \u2018INDUSTRIAL SCALE\u2019 AS MOSCOW BANS DIESEL EXPORTS<br \/>\nThe figures expose one of the central contradictions confronting Europe four years into Russia\u2019s invasion of Ukraine: While European governments have pledged to end dependence on Russian fossil fuels and cut off a key source of the Kremlin\u2019s revenue, significant payments for Russian liquefied natural gas continue flowing during the bloc\u2019s transition away from Russian energy.<\/p>\n<p>The analysis found French ports were the destination for 51 cargoes from the Yamal liquefied natural gas project, followed by Belgium with 37 and Spain with 34 during the first six months of the year, according to the analysis. The figures reflect deliveries to ports rather than the nationality of the companies purchasing the liquefied natural gas or its ultimate destination within the European market, a spokesperson with France\u2019s embassy in Washington emphasized.\u00a0<br \/>\nThe findings also come as NATO allies have committed to sharply increasing defense spending to 5% of GDP in response to Russia\u2019s invasion of Ukraine, highlighting the challenge of simultaneously strengthening Europe\u2019s military deterrence while significant energy revenues continue flowing to Moscow.<br \/>\nThe European Union has adopted legislation to phase out Russian gas imports in stages, with a ban on Russian liquefied natural gas under long-term contracts taking effect on Jan. 1, 2027, and a ban on Russian pipeline gas under long-term contracts following on Sept. 30, 2027. While pipeline gas imports from Russia have fallen sharply since 2022, Russian liquefied natural gas has remained a significant source of supply for several European countries.<br \/>\nTRUMP CALLS OUT NATO AHEAD OF SUMMIT, CALLING IT \u2018RIDICULOUS\u2019 FOR US TO PERSIST ON \u2018ONE SIDED PATH\u2019<br \/>\nPresident Donald Trump has criticized Europe for its continued dependence on Russian fuel sources.\u00a0<br \/>\n\u201cEurope has sadly spent more money buying Russian oil and gas than they have spent on defending Ukraine, by far,\u201d Trump said during his March 4, 2025, address to a joint session of Congress.\u00a0<br \/>\nEuropean Commission spokesperson Anna-Kaisa Itkonen said the increase likely reflected \u201cfrontloaded deliveries and adjustments to contractual arrangements ahead of tighter restrictions,\u201d noting that the ban on new Russian gas contracts only took effect in March and that most remaining imports are under long-term contracts that are not scheduled to end until 2027.<br \/>\nThe commission also said market disruptions following the closure of the Strait of Hormuz prompted efforts to maximize alternative liquefied natural gas supplies and that restrictions on Russian liquefied natural gas transshipment may have resulted in more cargoes remaining within the European Union market.<br \/>\n\u201cAs a result of President Trump\u2019s energy dominance agenda, the United States is the world\u2019s largest producer and exporter of oil and natural gas \u2014 with more than enough supply for both the United States and our allies,\u201d the White House said in a statement. \u201cThe United States is Europe\u2019s largest supplier of natural gas, and Europe will continue to import more and more U.S. LNG.\u201d\u00a0<br \/>\nThe Belgian Ministry of Foreign Affairs told Fox News Digital in a statement that Belgium backed the EU\u2019s agreement to phase out Russian gas imports and was \u201cactively working toward that objective,\u201d adding that the country was implementing all EU measures in the field.<br \/>\nFox News Digital has reached out to the Spanish embassy in Washington for comment.<br \/>\nRussia\u2019s use of energy as a geopolitical tool came into sharp focus after its full-scale invasion of Ukraine in 2022, when Moscow sharply reduced or halted natural gas supplies to several European countries, including Poland, Bulgaria, Finland and Germany. The European Commission accused the Kremlin of attempting to \u201cweaponize\u201d Europe\u2019s energy supply after Russia cut deliveries through multiple routes, including the Nord Stream 1 pipeline.<br \/>\nThe disruptions accelerated the European Union\u2019s effort to end decades of reliance on Russian fossil fuels and deprive Moscow of a key source of export revenue.<br \/>\nIn 2022, members of the European Parliament called on the European Commission to investigate allegations that Russian-backed organizations sought to shape European Union energy debates, including by opposing domestic fossil fuel development and nuclear power. The allegations have been the subject of political debate, but no comprehensive public finding has established that Russian funding broadly shaped Europe\u2019s green energy policies.<\/p>\n<p>TRUMP DEMANDS END TO TRADE WITH KEY US ALLY, CALLS IT A \u2018WASTED CAUSE\u2019<br \/>\nThe data illustrate the strategic challenges of unwinding decades of dependence on Russian energy while maintaining stable supplies for European consumers.<br \/>\nContinued liquefied natural gas purchases provide Russia with billions of dollars in export revenue at a time when the U.S. and its allies have sought to squeeze Moscow\u2019s energy earnings in an effort to limit the Kremlin\u2019s ability to sustain its war in Ukraine.<br \/>\nIn June, EU foreign ministers approved another round of sanctions targeting Russia\u2019s military-industrial complex and \u201ccurb[ing] Russia\u2019s energy revenues\u201d by tightening restrictions on the country\u2019s shadow fleet and the networks that help export its oil.<br \/>\nSpain, one of Europe\u2019s largest importers of Russian liquefied natural gas, has emerged as a focal point in the debate over the bloc\u2019s planned phaseout. The head of the Port of Bilbao urged Brussels to delay its 2027 ban on Russian liquefied natural gas imports in an article published June 27 in the Financial Times, warning Europe could become overly dependent on U.S. gas. Spain\u2019s energy minister rejected that argument, saying the recent rise in Russian liquefied natural gas imports was temporary and insisting Europe should move ahead with plans to eliminate Russian gas imports beginning in 2027.\u00a0<\/p>\n<p>Spain has also emerged as a frequent target of Trump: last week during the NATO Summit in Ankara Wednesday and Thursday, he blasted Madrid over its refusal to meet the alliance\u2019s new defense spending target, calling Spain \u201ca wasted cause\u201d and \u201ca terrible partner\u201d while threatening to cut off trade.<br \/>\nThe clash followed earlier disputes over Spain\u2019s refusal to support U.S. military operations against Iran.<br \/>\nThe findings come days after bipartisan senators and the Trump administration reached an agreement on legislation that would authorize sweeping secondary sanctions against countries continuing to purchase Russian energy. The proposal, championed by late Sen. Lindsey Graham and Sen. Richard Blumenthal, is intended to increase pressure on Moscow by targeting foreign buyers of Russian oil and natural gas.<br \/>\n\u201cAs Russia intensifies its slaughter of civilians, it is imperative that the legislative and executive branches work together to create tools to exact a heavy price on those who buy Russian oil and natural gas, fueling the Putin war machine,\u201d leading senators said in a joint statement.<br \/>\nFox News Digital has reached out to NATO and the Russian embassy for comment.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<div>Even as NATO allies increase defense spending, arm Ukraine and impose sanctions aimed at weakening&#8230;<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[230,1],"tags":[],"class_list":["post-35370","post","type-post","status-publish","format-standard","hentry","category-editors-pick","category-top-news"],"_links":{"self":[{"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=\/wp\/v2\/posts\/35370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35370"}],"version-history":[{"count":0,"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=\/wp\/v2\/posts\/35370\/revisions"}],"wp:attachment":[{"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbankingrules.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}