HomeMediaLatest NewsThe EU has found an unexpected new victim for sanctions

The EU has found an unexpected new victim for sanctions

16 May 2023

Gromov Alexey I. Principal Director on Energy Studies, Head of the Energy Department

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, gave a detailed commentary to the Vzglyad business newspaper on the new EU sanctions initiatives regarding the imposition of restrictions on the Russian pipeline gas export.

“The EU is talking about banning Russia from sending gas to Europe by gas pipelines through which supplies have already been stopped. Nord Streams (going to Germany) are destroyed, but theoretically they can be restored. Secondly, there is the Yamal-Europe gas pipeline (going through Poland), which is not used for political reasons. However, it is enough to cancel the Russian decision not to use this pipe for gas to flow through it again. European politicians want to mothball the current situation with gas supplies so that the Europeans would not be tempted to resume gas supplies from Russia through these pipelines,” Aleksey Gromov says. It is not yet a question of banning gas supplies to the EU via the Turkish Stream and through Ukraine.

Why does the European Union need all this theater? Why a ban on gas supplies by pipes to impose, through which gas from Russia is no longer flowing?

First, there are no places left for Brussels where it would be possible to hit Russia without harming the European economy. There is simply nowhere to hit, but the 11th package of sanctions must be developed and given weight.

“Europeans need to bring something original to the 11th package. They need a bright political gesture, and the ban on Russian pipeline gas is just such a gesture,” Gromov said.

Secondly, there will be no better time to legally kill the two gas pipelines from Russia. Thirdly, it is beneficial for both the US and European politicians.

In fact, the energy crisis in Europe is far from over. Now the big fire has died down, but there are smoldering embers that can flare up at any moment.

“Yes, no one expects the return of last year's peak prices. This will not happen, because there have been structural changes in Europe in terms of gas consumption at the industrial level, but the price of $400 that we see today is the minimum. Prices will rise, this is obvious to us,” the interlocutor concludes.

Gromov Alexey I. Principal Director on Energy Studies, Head of the Energy Department
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