Russia has warned that it will take drastic measures if sanctions are imposed on its energy exports, such as establish an embargo on gas arriving in Europe through the Nord Stream 1 pipelinewhile Europe looks for options to supply that supply.
”Today, Europe consumes about 500 billion cubic meters of gas a year, and 40% of this comes from Russia. For decades, Russia has been a reliable partner, no matter what. And even now, Gazprom fully complies with its contractual commitments, its obligations to deliver gas to Europe,” Russian Deputy Prime Minister Alexander Novak said in remarks reported by the Interfax agency.
Novak noted that shipments through Ukraine had increased to 109 million cubic meters per day, equivalent to shipments to Europe of around 40 billion cubic meters per year.
”This is the transit through Ukraine, and it is being fulfilled one hundred percent to this day. Also, deliveries are made via Nord Stream 1, Yamal-Europe, TurkStream and Blue Stream,” he added.
”At the same time, we understand that, with the baseless accusations against Russia regarding Europe’s energy crisis and the ban on Nord Stream 2, we have every right to retaliate and impose an embargo on gas pumped through Nord Stream. 1, which today is one hundred percent full”, he stressed.
Novak stressed that the decision has not yet been made and said that with mutual sanctions on gas “no one wins (…)” despite the fact that European politicians, with their claims and accusations, are pushing us towards it.
”Sadly, today we see European politicians making a statement on energy issues, urging to get rid of Russian oil and gas. Once again, European officials are trying to blame Russia for their problems and the mistakes of their own energy policy in recent years,” he stated.
”As a result, we see a sharp increase in energy prices. I responsibly declare that Russia has nothing to do with the current rise in prices and market volatility,” she added.
Russia currently sends about 60 billion cubic meters of natural gas a year through the Nord Stream 1 pipeline.
The German chancellor, Olaf Scholz, announced after the Russian invasion of Ukraine the suspension of the certification of the planned Nord Stream 2 gas pipeline, completed last year at a cost of 10,000 million euros and which was to supply Russian natural gas directly to Germany.
Crude price increased
Brent oil maintained its upward trend on Tuesday and was around $125 in the face of fears for supply, when the European Union (EU) debates reducing its dependence on Russian crude due to the war in Ukraine.
The price of a barrel of Brent, a reference in Europe, for delivery in May was trading at 124.93 dollars around 09:00 GMT in the London futures market, 1.4% more than at the previous close but far from the peak of almost 140 dollars reached on Monday.
Despite the fact that the EU has not committed to vetoing Russian oil, which accounts for 27% of European consumption according to Eurostat data from 2019, it has announced that today it will present a set of measures to reduce its dependence on gas and crude from that country.
Several European governments, including Germany, the Netherlands and the United Kingdom, have called for caution and advocate a gradual reduction in energy dependence on Russia, otherwise serious supply problems and price rises could be created.
The President of the European Commission, Ursula Von der Leyen, has anticipated that The community strategy will be articulated in three axes: diversify the importation of fossil fuel to reduce dependence on Moscow, accelerate investment in renewable energies and promote improvements in energy efficiency.
(with information from EFE)
Moscow warned of “catastrophic consequences” in the event of a Western embargo on Russian oil
The European Commission will present today its proposal to reduce energy dependence on Russia