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Bank of England expected to hold interest rates

Investors predict MPC will maintain interest at 5.25% when it meets on Thursday.

UPDATE 1-Kremlin says Russia will seek to overcome any EU sanctions on its LNG operations

Reuters
·1-min read

(Adds quotes in paragraphs 3,5)

MOSCOW, April 27 (Reuters) - Russia will look for ways to overcome what it regards as any illegal sanctions the European Union imposes on its liquified natural gas (LNG) operations, the Kremlin said on Saturday, saying any measures would backfire on European industry.

The European Commission's next sanctions package is expected to propose restrictions on Russian liquefied natural gas for the first time, including a ban on trans-shipments in the EU and measures on three Russian LNG projects, three EU sources said on Thursday.

"Attempts to squeeze Russia out of energy markets and switch to more expensive markets are continuing," Kremlin spokesman Dmitry Peskov told reporters.

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According to him, any new EU restrictions would benefit the United States and would mean European industry pays more for its gas.

"Of course, in any case, we will look for ways to overcome these illegal obstacles, unfair competition and illegal actions," said Peskov. (Reporting by Reuters Editing by Andrew Osborn)