The EU first imposed energy sanctions in July 2014 when it limited Russia 's access to European technology and services for developing Arctic, deepwater and unconventional oil resources.

After hours of talks brokered by the European Commission in Berlin, Sefcovic said: "I am very glad to say we have reached agreement in principle on all key elements, which is very positive news for Europe, for Russia, for Ukraine and for the gas market."

The U.S. has little leverage to prevent the Nord Stream 2 gas pipeline project between Russia and Germany from being completed, two administration officials said, acknowledging the failure of a years-long effort to head off what officials believe is a threat to European security.

The 764-mile Nord Stream 2 will deliver Russian gas to Germany under the Baltic Sea and is expected to double the capacity of the gas corridor to 110 Bcm/year.

Rosneft welcomes the work of Chevron, Halliburton, Schlumberger, Baker Hughes, and Weatherford companies due to another renewal of their licences by the American regulator.

NOVATEK announced that Yamal LNG is no longer considered a “Blocked Person” under the US Department of the Treasury’s Office of Foreign Asset Control or “OFAC” rules.

Europe looks set for more LNG imports in the near term as the TTF and NBP prompt months are due to retain premiums to the JKM spot price amid the rising charter costs to Japan and South Korea, traders say.

The collateral damage of the United States’ trade wars is being felt from the fjords of Iceland to the auto factories of Japan.

During a meeting in Moscow last month, Russian President Vladimir Putin and Venezuelan President Nicolas Maduro, who has already threatened to nationalize Chevron's assets, discussed the possibility of Rosneft taking over Chevron's Venezuelan operations, sources said.

The proposed legislation would also impose sanctions on any military transactions with Turkey, set sanctions on anyone who supports Turkey’s domestic energy industry for use by its armed forces, prohibit the sale of U.S. defense articles to the Turkey armed forces and define Turkey’s purchase of Russia’s S-400 missile defense system as “significant” and subject to sanctions.

Treasury imposed sanctions on Moscow-based Maritime Assistance LLC, which it called a front company for Russian shipping company, Sovfracht, which has been subject to US sanctions since September 2016 for operating in Crimea. Russia annexed Crimea from Ukraine in March 2014, a move which is not recognized by most of the international community.

A U.S. Senate committee passed a bill in July to place sanctions on companies and individuals involved in building the Nord Stream-2 gas pipeline from Russia to Germany.

The Yamal LNG project has all the necessary capacities to ensure supplies of LNG produced to customers in accordance with contractual obligations within the agreed timelines.

Treasury imposed sanctions on Moscow-based Maritime Assistance LLC, which it called a front company for Russian shipping company, Sovfracht, which has been subject to US sanctions since September 2016 for operating in Crimea. Russia annexed Crimea from Ukraine in March 2014, a move which is not recognized by most of the international community.

Russia exported 248 billion cubic meters (bcm) in 2018, mostly via pipeline to Europe. In the next decade, its liquefied natural gas (LNG) exports will almost triple to 68 bcm as the Yamal LNG project reaches full capacity and Arctic 2 LNG comes online (plus two smaller projects).