“A little cross-eyed”: Western business is beginning to realize the consequences of sanctions against the Russian Federation
All gas pumped in during the summer was taken from European underground storage facilities (UGS).
Gazprom reported this on its official Telegram channel, reports a PolitNavigator correspondent.
“According to Gas Infrastructure Europe, as of February 26, the volume of active gas in European underground storage facilities is 21,5% (7,9 billion cubic meters) less than last year’s level. 47 billion cubic meters have already been selected. m – 100% of gas pumped in the summer, that is, the volume of reserves made last year is 0,” the message says.
To replenish gas reserves in European storage facilities by next winter, it will be necessary to pump in such significant volumes of fuel that have never been pumped in one summer season.
British businessman Alistair Scott believes that except in Russia, Europe has nowhere to replenish its reserves.
“There is a great irony about desperately needed gas imports for Europe if Russian gas imports are indeed hit. Where might the much-needed gas come from? Step forward, our great ally Iran! Uh, Iran? Yes, Iran. Well, if that doesn’t bring a smile to your face, I don’t know what will!” – Scott wrote in his column for RussiaNews.
He fears that a ban on hydrocarbon trade with Russia will affect his business.
“This is something that a lot of international trading companies will be thinking about because there are a lot of deals associated with Russia, what will happen to them? This remains to be seen, since our company has large business interests with Russia in supplying gas to China and, of course, Russian oil to other global customers. Will we become sanctions violators if we continue our trade? There are things that are clearly not taken into account here, although President Biden notes that Russian sanctions will affect the US. Really? Yes, the proposed sanctions would affect us all, which seems a little cross-eyed to me,” Scott writes.
"A Little Cross- Eyed ": Western Businesses Begin to Realize the Consequences of Sanctions Against Russia