The European Union has decided against banning Greek companies from transporting Russian gas to third countries. Officials cited risks that such a move could allow China to gain control of key LNG shipping assets. The decision highlights Beijing's growing influence in global maritime finance.
A senior EU official explained the rationale behind the carve-out. “The bulk of these vessels has been bought through financial arrangements with … a loan with a very long repayment schedule with Chinese investors, and the Chinese are also shareholders of the company,” the official said.
The official added that failure to repay loans could force companies to hand over assets. “If the company will not be able to repay the loan thanks to what they get in terms of revenues from the business, they will simply need to lose control of assets and give it back to the investor,” the official stated, calling the situation “very serious” and “a very big risk.”
The bloc reached this conclusion after assessing potential strategic advantages for Beijing in maritime shipping and finance. The move involves assets linked to projects such as Yamal LNG.
