Ukraine conflict: Russia threatens to stop gas supplies for the first time

Status: 03/08/2022 01:34 am

–
–
–

For the first time, Russia has threatened to stop delivering gas to Germany via the Nord Stream 1 pipeline. Moscow would react to the stop of the Nord Stream 2 pipeline and western sanctions, it said.

After the start of the war against Ukraine, Russia openly threatened to stop gas deliveries through the Nord Stream 1 pipeline in the Baltic Sea for the first time. Such an embargo would be justified given the “unfounded allegations against Russia regarding the energy crisis in Europe and the ban on Nord Stream 2,” Russian Deputy Prime Minister Alexander Novak said on state television. “We have every right to make a ‘mirror-fair’ decision and impose an embargo.”

“Europe is pushing Russia in this direction”

His government has not yet decided to do so. “But European politicians are pushing us in this direction with their statements and accusations against Russia.” The federal government stopped the controversial Nord Stream 2 pipeline after Russian President Vladimir Putin recognized the breakaway “people’s republics” in Donbass on February 22.

Nowak said that Russia follows the statements of Western politicians who want to break away from Russian gas and oil. The EU politicians are now overheating energy prices through their actions. “Europe currently consumes 500 billion cubic meters of gas a year, 40 percent of which is secured by Russia,” explained Nowak. 60 billion cubic meters of gas flowed through Nord Stream 1 alone every year. The country has always delivered reliably throughout all crises and also continues to route gas through Ukraine and via other routes to Europe.

Warning also of rising oil prices

Nowak also warned against banning oil imports from Russia. This would lead to an unpredictable price increase: “It would be $300 a barrel if not more.” Russia is the largest oil supplier in Europe – with 30 percent of the annual consumption of 500 million tons.

“It is perfectly obvious that not using Russian oil will have catastrophic consequences on the world market,” Nowak emphasized. “European politicians should honestly warn their citizens and consumers that prices for fuel, electricity and heating will then skyrocket.”