Russia can dispose of gas intended for the European market elsewhere in the event of Western sanctions against Russian energy companies. That is what the Russian finance minister said. Europe is highly dependent on Russian gas.
It is not clear where Russia could then sell the gas. For example, the country does not yet supply much gas to China via pipelines. This should be stepped up in the coming years. Moreover, the gas cannot simply be transported from one side of Russia to the other.
About 40 percent of the gas consumed in Europe comes from Russia. That country in turn depends on its income. The European Union has taken extensive precautions in case Russia suddenly stops supplying gas to the bloc, European Commission President Ursula von der Leyen said on Tuesday.
If the Russians invade Ukraine, sanctions are already in place, US President Joe Biden has warned several times. The sanctions will be a heavy burden on Russian financial institutions and industry. Also, the Nord Stream 2 gas pipeline between Russia and Germany will not be commissioned, the president said.
Russia can sell gas for the European market elsewhere, according to minister
Source link Russia can sell gas for the European market elsewhere, according to minister