There are other purchase options if Russia does not sell gas to Europe due to the sanctions imposed on it, the Prime Minister of Latvia Krišjānis Kariņš (JV) admitted to the Latvian Television program “Morning Panorama” on Wednesday.
He commented on television whether the imposition of sanctions on Russia could not negatively affect the European and Latvian economies.
“It must be remembered that 92% of all our trade is not with Russia. We have 8% left with Russia. If we think like it was in 2000, it’s like day and night, then we were almost completely dependent,” the head of government said. .
At the same time, he acknowledged that in some sectors this proportion is higher. However, in the light of past experience, entrepreneurs will be able to adapt.
“Our entrepreneurs have proven time and time again – if the Russian market closes, find other markets. In the past, cheap milk powder went to Russia, it ended, now expensive cheese goes to Sweden,” said Kariņš.
Commenting on the possible rise in gas prices, the prime minister said that “we have an underground gas storage facility” and this spring, there is no threat this spring.
“In any case, we have gas now. We have to look to the next season. We also have to order liquefied gas cargo from Latvenergo, which can be moored in Klaipeda and pumped to Inčukalns, and work is underway,” said Kariņš.
According to him, if Russia, in the worst case scenario, no longer sells gas to Latvia and Europe, “we have other places to buy from”. “Let’s see if Russia will really be ready not to sell gas, because it also means giving up the money we send for this gas,” the head of government added.
It has already been reported that US President Joe Biden announced on Tuesday that the Kremlin’s decision to recognize the “independence” of the occupied Donbass territories was the beginning of an attack on Ukraine, to which Washington will respond with a first package of sanctions.
Biden also reported on sending additional army forces to the Baltic states.
Sanctions will be targeted at Russia’s national debt, members of the Russian elite and their families, the state-owned investment bank VEB.RF and the “army bank”.
The US president added that if Russia continued to escalate, the sanctions would be tightened.
However, Washington’s response to Russia’s actions does not appear to be as far-reaching as expected.
Only two Russian financial institutions are subject to sanctions, and Russia is clearly not being disconnected from the much-talked-about global banking system SWIFT.
Biden also did not announce the introduction of export controls that would deny Russian companies access to modern information technology.
The host of the White House also announced at a press conference that the United States will continue to supply Ukraine with defense weapons and will send additional US forces to strengthen NATO’s eastern flank.
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