EU May Need Sanctions on Russian Oil, Gas, Michel Says Natural gas prices in Europe hovered between gains and losses as uncertainty over future shipments from Russia countered milder weather and strong imports of LNG. Benchmark futures traded near 110 euros per megawatt-hour. Warmer temperatures are expected next week and a flotilla of liquefied natural gas cargoes is scheduled to arrive . Wind output is also high in parts of Europe. Still, supplies from Russia — steady for the time being — remain in focus. The U.S., European Union and the Group of Seven are coordinating a fresh round of sanctions on Moscow. The EU is considering a proposal for a mandatory phaseout on coal from Russia, but isn’t planning to sanction oil or gas for now, according to people familiar with the matter. The bloc likely needs to impose oil and gas sanctions on Moscow “sooner or later,” […]