Putin to Europe: “Open Nord Stream 2 if you want gas”

September 19, 2022

On Friday, President Vladimir Putin claimed that Russia was to blame for the energy crisis in Europe, stating that the EU should abolish the sanctions preventing the Nord Stream 2 pipeline from opening if it wanted additional gas.

Putin blamed the energy problem on what he called “the green agenda” in a press conference following the Shanghai Cooperation Organization summit in Uzbekistan and vowed to uphold its energy commitments.

The final line is, just click the button to waive the sanctions on Nord Stream 2, which will produce 55 billion cubic meters of gas year, if you feel the need to do so or if it’s too difficult for you. Nord Stream 2, which is virtually parallel to Nord Stream 1 in the Baltic Sea bed, was constructed a year ago, but Germany decided against moving through with it just a few days before Russia moved soldiers into Ukraine on February 24.

In response to a reduction in Russian supplies, European gas prices have more than doubled since the beginning of the year.

The price increase this year has put pressure on already-struggling households and caused several sectors to suspend output. In retaliation for Western sanctions against Moscow over its invasion of Ukraine, Europe has accused Russia of turning energy supplies into weapons. According to Russia, sanctions have made it more difficult to operate the Nord Stream 1 pipeline and the West has started an economic war.

Due to their refusal to pay in roubles rather than the currency specified in the contract, numerous nations, including Bulgaria and Poland, have had their gas supply turned off by Russia.

The key supply route for Europe, the Nord Stream 1 pipeline, was also announced earlier this month to remain closed due to an engine oil leak in a turbine at a compressor plant, which caused wholesale gas prices to skyrocket.

Also Read: The Containership Charter Market is Coming Back