On Friday, President Vladimir Putin refuted that Russia was to blame for the ongoing energy crisis in Europe. He further said that the EU can end its energy woes by abolishing the sanctions that block the Nord Stream 2 pipeline from operating if it needed additional gas.
Putin blamed the EU’s energy problem on what he dubbed “the green agenda” in a press conference following the Shanghai Cooperation Organization meeting in Uzbekistan. He also emphasised that Russia will fulfil all its energy commitments.
Putin said, “The bottom line is, if you have an urge, if it’s so hard for you, just lift the sanctions on Nord Stream 2, which is 55 billion cubic metres of gas per year, just push the button and everything will get going.”
Nord Stream 2, which is nearly parallel to Nord Stream 1 in the Baltic Sea bed, was constructed a year ago. It was designed to double the flow of gas to Germany. But Germany decided to move against it on the directives of the US, just a few days before Russia deployed soldiers into Ukraine on February 24.
Europe’s miseries
Moscow has then stopped sending gas via the Nord Stream 1 pipeline to Germany, citing a gas leak and giving no time frame for when the flow might resume. However, Russia asserts that sanctions have made it more difficult to operate the Nord Stream 1 pipeline. Canada even halted the supply of required turbines to Russia citing sanctions which again aggravated the gas crisis in the European Continent.
Since then, Europe has struggled to find alternatives to Russian energy. Furthermore, Europe roughly imported one-fifth of its gas from Norway. However, the gas plants there have been continuously rocked by workers’ protests and the Norway plant leaks.
Algeria, which is the third largest gas-exporters to Europe has capitalized on the situation and has increased the gas prices multi-fold knowing that Europe has no one but Algeria to rely on. Also, the Western Sahara dispute between Algeria and Europe has become the key reason for the burgeoning diplomatic crisis.
Europe which now depends on the majority of gas imports from the US has also seen some mysterious blasts in Texas to a major gas exporting plant.
The failure to find alternatives to Russian energy has become a real pain in the neck of Europe.
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After the war, Europe’s economy has gone for toss. Its currency Euro has fallen to the lowest against the dollar in a decade. Europe’s inflation has rocketed to the highest in the last three-four decades. The gas embargo has put millions of jobs of Europeans in jeopardy. Energy companies are on a verge of bankruptcy with already $1.3 trillion of debts.
Now, European countries are planning to dim their lights and suggesting to not bathe for more than five minutes for energy conservation. Europe faces a danger of extreme winter if the energy imports are not restored to levels before the Ukraine war.
Russia: Europe’s last hope
Putin wants a long-term gas deal with Europe through which they can secure its energy supplies and protect themselves from any major uprisings in the continent. The Czech Republic and Germany have already seen the teaser of the protests that are yet to come because of inflation and the rising cost of living. A long-term gas deal will also mean the cancellation of the gas deal which Europe has signed with other countries or is looking to sign.
The Political crises in Italy, North Macedonia and Britain have highlighted the upcoming “European spring.” Countries face the danger of their economy shrinking. Despite all the signs of recession approaching Europe, it has been indifferent to its concerns till now. Fortunately, Russia has lent Europe the help it needs. If Europe accepts the generous offer, it will secure its energy needs and thwart any civil-war uprisings as gas prices will go down and de-industrialisation would be nipped in the bud.
Also, one major step that could help Europe to come out of its hell hole is to end the ongoing war soon. For that to happen, it should stop sending any kind of aid to Ukraine. Financing the war has only helped Ukraine and has augmented the misery of Europe.
If Europe doesn’t stand for itself today and continues to walk on the path of the US it’ll lose its place in the world. Europe should better protect its own interests otherwise there’s no coming back for it from this tragedy.
