President Donald Trump has signed the Lindsey Graham Sanctions Act, a law that authorises tariffs of up to 100% on countries still buying Russian oil and natural gas — and European LNG buyers are now calculating the fallout.

The law does not automatically impose tariffs on the European Union, but its practical application remains uncertain, creating fresh risk for governments and companies still exposed to Russian gas. The European Commission says it will engage with Washington to limit the damage.

The EU has "clear expectations" that the Graham law "should not impose new commercial barriers in the bilateral EU-US relationship," a Commission spokesperson told Euronews on Wednesday. "We will engage with the US with a view to ensuring this outcome."

The timing could hardly be worse. The EU is struggling to refill gas storage to at least 80% by November, according to real-time intelligence platform Global Energy Flow, with winter storage sitting at the lowest level for this time of year since records began in 2011. Asian bidders are outcompeting Europe for available cargoes, and Russian gas imports into the bloc actually rose to 17%, as landlocked countries and holders of long-term contracts — fearing legal challenges from Gazprom — received exemptions.

A full EU ban on Russian LNG imports takes effect on 1 January 2027.

Asked on the sidelines of the UN General Assembly on 22 September whether the Lindsey Graham bill could harm European partners, EU Foreign Affairs chief Kaja Kallas said she "didn't think" of that, adding she hopes it isn't true.

Washington's move could create friction with EU member states still exposed to Russian gas, notably France, Belgium, the Netherlands and Spain.

Ben McWilliams, affiliate fellow at Brussels-based think tank Bruegel, played down the direct market impact. The tariffs "should not change too much," he told Euronews, since no Russian LNG should enter the bloc after the 2027 ban. "I think Russia will be able to reach alternative markets, and do not expect a huge market impact. There has been plenty of time for utilities and traders to prepare."

For shippers and port operators, the sharper risk sits in the maritime provisions. The new US law covers foreign vessels determined to knowingly transport Russian-origin LNG, although designations are not automatic and national-interest waivers are permitted, according to German environmental non-profit Urgewald.

The sanctions, which Congress will review on 18 October, could also target the owner or operator of any foreign port that allows a US-sanctioned Russia-linked vessel to call or receive services — including ports in Europe. One name already in the frame is the Danish port of Odense Havn, where Fayard, a major Danish ship repair shipyard, has faced intense scrutiny and political pushback for servicing Russia-linked Arctic LNG carriers.

Swedish MEP Jonas Sjöstedt (The Left group) criticised the ongoing repair of a Russian Arc7 LNG tanker at Fayard. "These vessels are a critical component in Russia's arctic LNG export, transporting billions of Euros worth of Russian LNG. This must stop. European companies must not be allowed to keep Russia's fossil-fuel lifeline running. Every repair helps sustain Putin's illegal war against Ukraine," he said.

German MEP Hannah Neumann (Greens/EFA) urged Fayard to end "business as usual." "By putting commercial interests ahead of our collective responsibility to isolate Russia, Fayard is undermining the pressure we are trying to build," she said.

The legislative backdrop compounds an already disrupted LNG supply chain. Since the US and Israel bombed Iran on 28 February, Middle East escalation closed the Strait of Hormuz and damaged a vital Saudi pipeline, disrupting LNG transit to European terminals.

With the 18 October congressional review approaching and European storage refill targets still unmet, shipowners, port operators and European utilities face a autumn in which US sanctions designations — not just market fundamentals — could decide which vessels trade, which ports service them, and at what price Europe fills its tanks before winter.