Russia has decried U.S. sanctions targeting the country’s massive Arctic LNG 2 project, saying they are unacceptable and will undermine global energy security. Located in the Gydan Peninsula in the Arctic, the LNG project is considered key to Russia's efforts to boost its global LNG market share from 8% to 20% by 2030-2035.
Russia is the world’s fourth largest LNG producer behind the United States, Qatar and Australia. "We consider such actions unacceptable, especially in relation to such large international commercial projects…Russia's Arctic LNG 2 Project Faces Setback Due to US Sanctions
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