European companies have supplied over $630 million worth of equipment according to the current exchange rate to Russia’s Arctic LNG 2 project since the invasion of Ukraine despite it being under Western sanctions, The Moscow Times’ Russian service and the Arctida NGO reported Tuesday in a joint investigation. Arctic LNG 2, whose key stakeholders include President Vladimir Putin’s close friend, the billionaire Gennady Timchenko, received a total of 580 million euros’ worth of European equipment between May 2022 and the end of January 2024, the investigation found. The EU banned the supply of equipment to Russia for the production of liquefied natural gas (LNG) in May 2022, while the United States sanctioned Arctic LNG 2 at the end of 2023. But in January 2024 alone, 24 million euros’ ($26.2 million) worth of spare parts and equipment for Arctic LNG 2 were imported into Russia from EU countries, according to Russian customs data seen by The Moscow Times’ Russian service.�
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