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European countries are racing to meet a January 1 deadline to halt imports of Russian liquefied natural gas (LNG), but the transition is raising concerns about a growing reliance on U.S. energy supplies. The ban, part of broader sanctions over Russia's invasion of Ukraine, targets Russian gas tankers and aims to cut off a key revenue stream for Moscow. However, as the deadline approaches, European officials worry that replacing Russian LNG with American exports could create a new dependency. The shift highlights the continent's struggle to balance energy security with geopolitical risks, as U.S. LNG now accounts for a significant share of Europe's imports. Market participants are watching for potential supply disruptions and price volatility as the deadline nears, with some traders expecting increased speculative activity in European gas benchmarks.
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