Putin to limit energy supplies to unfriendly Western states
In the tug-of-war over Russian energy supplies to Western countries, the situation remains volatile. While the West is desperately trying to find a substitute for Russian energy sources, but has no alternatives, at least in the short term, Russia is taking the initiative. Kremlin leader Vladimir Putin announced that he intended to divert energy exports to the south and east.
Published: April 15, 2022, 8:52 pm
“Energy supplies to the West will fall,” Putin said at a cabinet meeting. Instead, “the fast-growing markets in the South and East are being served step by step”. Russia must continue in the direction taken years ago.
Against the background of the European boycott discussions, the Kremlin chief also warned: “The consequences of such a step can be very painful – especially for the initiators of such a policy.”
“The banks from these extremely unfriendly states are holding back the transfer of payments,” Putin noted. Defaults on export deliveries of Russian energy resources can be observed, and: “European countries keep talking about forgoing Russian deliveries and by doing so they destabilize the market and drive up prices.”
The Russian leader added: “Squeezing out Russian suppliers and replacing our energy resources with an alternative supply will inevitably weigh on the entire global economy.”
European Central Bank chief simply looks away
European banking leaders have been ignoring the hikes at the gas station which is adding to inflation. They have in fact made sure that rising prices will remain a feature for years to come by piling on sanctions against Russia while pressing on with ludicrous green policies.
European Central Bank (ECB) chief Christine Lagarde (66), who has never worked in a bank, has seen to it that zero and negative interest rates rob German savers of billions. Yet, the trillions in debt allowed for the French state and other careless EU debt makers (including Germany), was never the goal of the ECB – it had been precisely to avoid any kind of inflation.
France and the southern countries urgently need trillions in loans at zero cost, and that’s all that counts. German media, bankers and economists have been watching this spectacle unfold without even a gentle reprimand. In truth, official inflation forecasts are embellished and worthless.
Russia’s Energy Minister Alexander Novak for one, has shown himself unimpressed by European discussions about possible import bans on Russian gas and oil.
“There is hardly any reasonable alternative to energy sources from Russia. Taking into account Russia’s market share, it becomes obvious that without Russian energy resources it is impossible to guarantee Europe’s energy security,” Novak wrote in an editorial for the industry journal Energeticheskaya Politika.
According to Novak, it will take another five to ten years before the EU can fully replace Russian oil and gas. Neither the US nor the OPEC countries have enough capacity to help out the Europeans. “That is why the fate of European industry and the well-being of EU citizens fully depend on the rationality of the decisions of EU leaders,” Nowak remarked.
Instead, stupidity has been the norm for EU elites.
Several buyers of Russian natural gas have meanwhile agreed to switch to payment in rubles, including Hungary.
German Economics minister has reverted to kindergarten schemes
German Economics Minister Robert Habeck has once again called on people in Germany to save energy. “I ask everyone to make a contribution to saving energy now,” he told the newspapers of the Funke media group against the background of the Ukraine war. “As a rule of thumb, I would say: ten percent savings is always possible.” The Green politician believes cycling is the answer to Germany’s energy crisis because it “annoys” the Russian president.
It is not at all clear how cycling would improve the prospects of German industries however.
“We can only become more independent from Russian imports if we see it as a big joint project in which we all participate,” he added. If you can take the train or bike at Easter, that’s good. “It’s easy on the wallet and annoys Putin,” declared Habeck.
Habeck and his cohorts are more concerned with being able to implement the climate agenda within the shortest possible time.
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