Russia Cuts Off All European Gas – It Will be Devastating
Russia has cut off all gas through the Nordstream I pipeline. According to a Kremlin spokesman, it will stay off until economic sanctions by the west on Russia are lifted. Until now, it was expected that gas flows would resume, easing energy shortages, but no more.
“We see incessant attempts to shift responsibility and blame onto us. We categorically reject this and insist that the collective West – in this case, the EU, Canada, the UK – is to blame for the fact that the situation has reached the point where it is now,” said Kremlin spokesman Dmitry Peskov.
We predicted this back in February. It is Russia’s way of ending the war and keeping its conquered territory.
The effect will indeed be devastating. Europe imports 40% of its gas and 30% of its oil from Russia. Other suppliers, including Saudi Arabia, have either declined or are unable to make up the difference.
Europeans will not be able to heat their homes. Driving will be very expensive.
Major European industries may be forced to shut down. Distribution channels will be crippled.
First a shortage of energy, then a shortage of food.
We have already seen protests over soaring energy prices. Now we will see riots.
I’m betting that defections will start in the late fall months, Europe will, piece by piece capitulate to Russia and lift sanctions. Hereafter, for the next 10 years until Europe solves its own energy problems, they will be under the heel of Russia.
Trump warned them several years ago to not be dependent on Russian oil and gas. He was not heeded, and indeed was scoffed at. Germany continued to shut down nuclear power plants, and the EU has focused on renewable energy, which has not proven itself in capacity or reliability.
Lest you think this will be permanent damage to Russia, it seems they plan to build pipelines south and west into Asia. China is already buying and reselling Russian oil to Europe. This may stop as well.