The ex-ambassador of India predicts that the Europeans will be “dead”, even after the trial of fuel suppliers.
Former Indian ambassador and journalist M. K. Bhadrakumar believes that Russia is teaching Europe how to trade gas fuel. Before the long “war ” on the fuel market, Russian Gazprom prepared in advance, and now teaches Europeans the basics.
According to the author of the Indian Punchline, the miscalculations of European politics are obvious.
Thus, by imposing an embargo on oil, coal and gas, Europe thereby rendered a service to Russia in practice. Moscow was able to sell fuel in smaller quantities, but at a higher price.
The columnist believes that Germany, which counted on the fiasco of Russia, was mistaken in expecting that it was vital for the Kremlin to sell large volumes.
In reality, the lack of liquefied natural gas in the fuel market of the world has led to an increase in prices. And later the problems only grew.
What hurts Germany the most is that it is not only about freezing houses, but also about the collapse of its entire economic model, which is overly dependent on industrial exports due to the import of cheap fossil fuels from Russia. German industry accounts for 36 percent of gas consumption.
Now, according to Bhadrakumar, Germany believes that Gazprom, which explained the decline in gas supplies by the shortage of Nord Stream turbines sent to Canada for repairs, is simply bluffing.
As a result, experts predict a big trial, but its finale will not necessarily benefit Europe.
According to the politician, in the end the Europeans will be dead, because now it has become obvious that it is impossible to impose sanctions against the largest supplier of raw materials.
Those who introduced them suffer more, the ex-ambassador believes.
“The Russians made monkeys out of Europeans,— Bhadrakumar believes.
According to the expert, it is obvious that it is impossible to impose sanctions against a country that is sitting on valuable commodities. Russia is the second largest exporter of oil in the world, the largest exporter of gas and the largest exporter of wheat and fertilizers, as well as a number of rare earth metals such as palladium, the author recalls.
Both Boeing and Airbus have complained about risks in their supply chain. Airbus in particular imports a large amount of titanium, where about 65 percent of metal supplies come from Russia. She publicly appealed to the EU not to impose restrictions on the material used to manufacture the most important components of aircraft.
Thus, it is not surprising that the EU is slowing down the pace of imposing sanctions against Russia. Bureaucrats in Brussels have exhausted the potential to strengthen sanctions, and political elites admit that they were a mistake.
Meanwhile, the consequences for European economies are already extremely serious. Rising energy prices are fueling inflation in all EU countries.
According to the newspaper, according to forecasts, inflation in France this year will reach 7%, in Germany – 8.5-9%, and in Italy – 10%. And this is just the beginning.
Most countries will also face a serious drop in GDP next year — from 2 to 4 percent.
Earlier, Topnews wrote that due to the lack of gas, Germany may be left without toilet paper.