Today has been a big news day as it pertains to Russian energy. Russia has closed the Nord Stream pipeline indefinitely and won’t be selling oil to countries that adopt the G7’s price cap scheme.
On top of all of that, we have this story.
RT:
The EU needs a price ceiling on imports of Russian pipeline gas, European Commission President Ursula von der Leyen announced on Friday, according to Reuters.
“I firmly believe that it is now time for a price cap on Russian pipeline gas to Europe,” she told reporters on the sidelines of a meeting of German conservative lawmakers in the town of Murnau.
The EU chief insists the measure would prevent what she called Russian President Vladimir Putin’s attempts to manipulate the European energy market.
EU energy ministers are expected to discuss the issue during an extraordinary meeting on September 9.
Meanwhile, former Russian president Dmitry Medvedev warned on Friday that in the event of the introduction of such a price cap, EU nations won’t get any Russian gas. “It will be like with oil. There will be no Russian gas in Europe,” Medvedev wrote on his Telegram channel.
So the EU wants to put a price cap on Russian gas. As Medvedev rightly pointed out, this will mean that the EU is not going to get any of their gas.
It’s just as stupid if not more stupid than the oil price cap scheme that the G7 just put into place.
The Russians merely want to sell their energy at fair market value and the West is trying to disrupt the energy markets by making all of these weird demands. It is them not the Russians who are manipulating the energy markets.
Either way, it just means that the West won’t get any Russian energy and millions of Europeans will freeze and starve.
