Massive move. By finally hitting their gas, you put Russia in a bad position. You can't buy good weapons with oil only, you need cash.
this post was submitted on 20 Jun 2024
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In a little over 2 years the EU went from being primarily dependent on Russian gas to now slapping on sanctions.
I'll bet China is watching this.
The EU has now started identifying which resources rely on china that we can't live without and will also start divesting there. Russian gas crunch was a tough and expensive lesson.
This is the best summary I could come up with:
Since Vladimir Putin’s full-scale invasion of Ukraine in February 2022, the bloc has left Russian gas unsanctioned — even as it slapped strict bans on oil and coal exports.
But with evidence mounting that Western efforts to drain Moscow’s fossil fuel revenues are falling woefully short, pressure has been building to go after gas.
In the end, negotiators relented to Germany’s concerns, dropping a clause it feared would harm small businesses, pending a study of the potential effects, three EU diplomats said.
But it has continued to import and resell Russian LNG, which is shipped by tanker in supercooled liquid form — representing a major embarrassment for the bloc as it attempts to starve the Kremlin’s war chest.
Germany argued that smaller, export-oriented companies will simply give up on some business in Asia or the Middle East that isn’t even connected to Russia, fearful about potential sanctions violations.
Last week, an official from Annalena Baerbock’s foreign ministry, granted anonymity to speak candidly, said they feared Germany’s delays were hurting Berlin’s attempts to shed its pre-war reputation for pushing Russia-friendly economic policies.
The original article contains 756 words, the summary contains 180 words. Saved 76%. I'm a bot and I'm open source!