Since March 26, the transhipment of Russian liquefied natural gas (LNG) outside the European Union has been banned at European LNG import terminals. While this ban, part of the 14th package of sanctions adopted by the EU, is intended to reduce some of Russia’s revenue from LNG sales, it will not prevent many European terminals from continuing to import Russian LNG for the European market. One of these is the French terminal Dunkerque LNG, the main gateway for Russian LNG into Europe, which has been 15% owned by the life insurer Crédit Agricole Assurances (CAA) since 2018. An investment that raises questions at a time when the ministry of economy and finance wants to call on life insurers to finance France’s defence against the Russian threat.
