The End of Russian Oil
- Thread starter terr
- Start date
huh?
Russia needs the money from its energy exports more than ever, given the havoc sanctions have wreaked on others parts of its economy. Analysts say Russian GDP could shrink by about a fifth this year. And it couldn't easily sell natural gas to other countries, such as China, because the pipeline infrastructure doesn't yet exist.
Moscow's decision to publicly threaten to turn off the taps could backfire by adding ever greater urgency to efforts to break Europe's addiction to Russian energy. EU officials have already set a target of cutting Russian gas use by 66% this year. Germany is building terminals to import liquefied natural gas, US shipments are being ramped up, and Europe is accelerating renewable energy projects.
Given the EU's ambition to replace a majority of Russian imports with alternative suppliers by the end of the year, it seems likely that most if not all European buyers will opt not to renew supply deals.
Europe's gradual shift away from Russia's energy supplies is structural, and will not be reversed.
Moscow's decision to publicly threaten to turn off the taps could backfire by adding ever greater urgency to efforts to break Europe's addiction to Russian energy. EU officials have already set a target of cutting Russian gas use by 66% this year. Germany is building terminals to import liquefied natural gas, US shipments are being ramped up, and Europe is accelerating renewable energy projects.
Given the EU's ambition to replace a majority of Russian imports with alternative suppliers by the end of the year, it seems likely that most if not all European buyers will opt not to renew supply deals.
Europe's gradual shift away from Russia's energy supplies is structural, and will not be reversed.
Last edited:
Read the whole article here:-
https://www.cnn.com/2022/04/01/business/russia-gas-ruble-ultimatum-explainer/index.html
https://www.cnn.com/2022/04/01/business/russia-gas-ruble-ultimatum-explainer/index.html
https://wsau.com/2022/04/01/russia-manufacturing-activity-shrinks-to-near-two-year-low-in-march-pmi/
Russia manufacturing activity shrinks to near two-year low in March -PMI
Russia manufacturing activity shrinks to near two-year low in March -PMI
Oh, CNN
the most trustworthy propaganda outlet ever
in the mean time
GAZPROM SAYS STARTED TO SEND REQUESTS OF GAS-FOR-ROUBLE PAYMENT SWITCH TO CLIENTS TODAY
KREMLIN SAYS PUTIN'S ORDER OF GAS PAYMENTS IN ROUBLES IS IRREVERSIBLE
Oh, the KREMLIN,
the most trustworthy propaganda outlet ever
in the mean time: yes...no...maybe...maybe not...
"Does this mean that if there is no confirmation in roubles, then gas supplies will be cut off from 1 April? No, it doesn't, and it doesn't follow from the decree," Kremlin spokesperson Dmitry Peskov said.
It looks like desperate chaos in Russia. They don't know anymore what to do.
That's kinda what put Europe in the problem it is in now.
Germany was supposed to decommission its last nuclear reactors this year. Hmmm.... have they done it yet? Will they still manage to now? Last I heard, Germany was begging its own factories including the public to do everything possible to cut power consumption ASAP.
All I can say, (as a person long crude). I HOPE it's a HOT SUMMER!
New laws banning the use of air-conditioning this year is expected. I suppose senior citizens may be exempt from going to prison for such a thing...