Russian Policy And Scorching Heat In Europe Threaten The EU With An Economic And Energy Crisis – Bloomberg

Meanwhile, Olaf Scholz himself went to inspect a Russian gas turbine.

The ruling elites of the European Union are looking more and more like blonde. The behavior of these guys is surprising, and the logic is absent. Moreover, decisions change so often that it is almost impossible to keep track of this process. In this case, the actions are chaotic, which causes additional damage.

 A simple example, from August 1, the EU banned itself from buying coal from Russia. It would seem, well, they decided, okay, but European companies lost 50% of all supplies, which there is simply nothing to replace. As a result, experts have already announced an imminent rise in prices because now they will have to pay for the coal and transportation from other parts of the planet. But that’s not all. So, in England, they allowed themselves to buy coal in the quantities necessary for national security. It turns out that the whole of Europe will pay almost 2 times more,

The situation is similar with oil when several tankers from the ports of the Russian Federation are unloaded off the coast of the UAE into one large floating tank. After that, black gold is sold under a different flag on European exchanges. Someone pretends to know nothing about such schemes, while activists on both sides of the ocean are very outraged by what is happening. All this is relevant for the supply of food, fertilizers, and other products, without which it will be difficult for Europeans to survive the coming winter. But a circus performance around a gas turbine can outshine all the clowning.

If you have forgotten, let’s briefly go through the latest events. In mid-June, Nord Stream 1 pumped volumes fell from 167 million cubic meters to 67. For 20 days, Europe pretended nothing was happening. Still, on July 7, unexpectedly, Germany turned to Canada with a request to return the Russian turbine, which was undergoing maintenance at the Siemens Energy plant. On July 11, everything got even worse because the pipeline stopped for a scheduled inspection, and after that, instead of 40% of its capacity, it began to produce only 20%. Together with the pipeline that passes through the territory of Ukraine, this gives about 70 million cubic meters of gas per day. Experts note that such a quantity is not even able to meet the current needs of Europe, and you also need to take care of pumping gas into underground storage facilities.

There is no doubt that today the government of the Russian Federation is trying to put pressure on the EU, effectively using gas for this; only recently, European politicians themselves wanted to refuse to purchase blue fuel. Today, both sides are in a strange position. Gazprom notes that it is necessary to start servicing several more turbines as soon as possible, which means they need to be removed from sanctions. Germany they do not dare to take such steps since it is impossible to lift sanctions alone.

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The Russian monopolist is being offered close to verbal agreements, but at the moment, it is in Russia’s interests to marinate the Germans as long as possible. The turbine has become a stumbling block, and there is nowhere to get additional volumes. As a result, German Chancellor Olaf Scholz himself went on an inspection tour of the Siemens Energy site in Mülheim an der Ruhr today.

It is not clear how effective the Chancellor’s trip will be. In the meantime, however, more aggressive attempts are being made to force certain countries to save. The plans are to reduce consumption by 15%, and those who have pumped into underground storage more than others will have to share with their neighbors.

 Against this background, the problem of lack of energy is acute, but even here everything is terrible. France is known to be the least dependent on gas supplies since it has several nuclear power plants. In this case, it is not so important that the fuel for them is purchased in the Russian Federation because it was necessary to reduce the power generation capacity significantly due to the heat. According to Bloomberg experts, this will only exacerbate Europe’s growing economic and energy crises in the fall.