Russia's LPG Prices Fall 50% Following EU Embargo

Russia’s domestic prices of liquefied petroleum gas (LPG) were cut in half in December after an EU ban on imports took effect. EU sanctions on Russian LPG took effect on Dec. 20 a year after Poland--one of Russia's largest LPG importers--proposed them. LPG is mainly used as fuel for cars, heating and to produce other petrochemicals. The European Commission has proposed sanctions on Russia's LNG sector as part of Brussels’ 14th sanctions package against Russia. The proposed sanctions would prevent EU countries from re-exporting Russian…