Europe's Russia Sanctions Have a Major Blind Spot
Gas & LNGSanctions target Russian banks and shadow-fleet tankers, not the equity that keeps a European major inside Russian gas production. TotalEnergies still holds a 20% stake in Yamal LNG and 19.4% of Novatek, banking roughly $400 million a year in LNG sales plus about $600 million in dividends still stuck in Russia. This is analysis, not advice.