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ONDON – Qatar will cease supplying gasoline to the European Union if member states strictly implement new laws tackling pressured labor and environmental hurt, Vitality Minister Saad al-Kaabi advised the Monetary Instances.
The directive, authorized this 12 months, requires bigger corporations working within the European Union to confirm whether or not their provide chains use pressured labor or trigger environmental harm and to take motion in the event that they do.
Penalties would quantity to as much as 5 % of worldwide turnover.
“If I might lose 5 % of income by going to Europe, I gained’t go to Europe. I’m not bluffing,” Kaabi advised the newspaper, including that “5 % of QatarEnergy’s income means 5 % of the state’s income of Qatar.”
“That is folks’s cash, so I can’t lose that a lot cash – and nobody would settle for to lose that a lot cash.”
Qatar, one of many world’s main LNG exporters, seeks to play a bigger function in Asia and Europe as competitors will increase from the biggest provider in the USA.
It plans to increase its liquefaction capability from 77 million to 142 million tons yearly by 2027 (December 22, 2024).
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