EU(Washington Insider Magazine)-Russian oil and gas have become a big point of contention since the Russian-Ukrainian war began in 2022 – especially with recent suspicion of Nord Stream sabotage.
Huge sanctions have been levied against Russia because of its so-called “Special Military Operation” in Ukraine, which the West has dismissed as nothing but an “invasion.”
Whether or not there’s agreement with either country’s point of view in this Russian-Ukraine War, there is no doubt everyone is feeling the cost of energy as it spikes with global crises.
At first, it was Russia wanting to have its gas bought with its local currency the Rouble, then claiming that sanctions have prevented it from repairing turbines it needs to pump gas into the Europe Union (EU).
However, the EU has dismissed it as retaliation for its sanctions, and now Ukraine has accused Russia of a Nord Stream Attack.
The Nord Stream 1 operators reported an undersea explosion and damage to the pipeline, this has led to Denmark warning ships in the region to avoid the area.
The Ukrainians have accused the Russian Government of terrorism; whether true or false, this incident will be a major Russian war update.
The other European leaders have also sided with Ukraine, with the Polish Prime Minister declaring it sabotage linked to the Russian-Ukraine war but the Danish Prime Minister has been hesitant to point fingers.
However, the Russian government has denied any claims of sabotage and has blamed it on not being able to properly maintain the gas pipeline due to sanctions.
The Nord Stream 1, which is made up of 2 parallel gas lines has been shut down for maintenance since August, but still contains gas – regardless of the explosion or the lack of operation on the gas lines.
Supply of gas to the EU, though reduced (thus the high price of gas), will continue to flow through other channels.
Due to the Russian-Ukraine war and this recent “Nord Stream attack,” some EU countries have been trying to curb their dependency on Russian gas.
A new pipeline from Norway is being considered and if successful, will supply gas to the European Union.