The Arctic LNG 2 project is operated by Russia's Novatek while Japanese trading company Mitsui & Co and state-owned Japan Organization for Metals and Energy Security ( JOGMEC ) hold a combined 10% stake. Mitsui and JOGMEC are set to receive a combined 2 million metric tons of LNG per year from the project. The latest sanctions are part of several economic measures the U.S., Europe and their allies have taken against Russia in response to its invasion of Ukraine in February 2022.