India's ex-ambassador predicts Europeans will be 'dead' even after fuel suppliers' trial.
Former Indian ambassador and journalist M. K. Bhadrakumar believes that Russia is teaching Europe how to trade diesel. Before the long “war” in the fuel market, the Russian “Gazprom” has prepared in advance and is now teaching Europeans the basics.
As the author of the Indian Punchline report reports, the miscalculations of European policy are obvious.
Thus, by imposing an embargo on oil, coal and gas, the Europe has thus practically done Russia a service. Moscow was able to sell fuel in smaller quantities, but at a higher price.
The columnist believes that Germany, which was counting on the Russian fiasco, got it wrong. #39;expecting the Kremlin to be vital to sell large volumes .
In fact, the lack of liquefied natural gas in the global fuel market has led to higher prices. And later the problems only grew.
What hurts Germany the most is that it is not just about freezing houses, but also about the collapse of its entire economic model, too dependent on industrial exports through the import of cheap fossil fuels from Russia. German industry accounts for 36% of gas consumption.
However, according to Bhadrakumar, Germany estimates that “Gazprom”, which attributed the drop in gas supplies to the lack of turbines “Nord Stream”, sent to Canada for repair, is simply stunning.
As a result, experts predict a big lawsuit, but its outcome may not necessarily benefit Europe.
According to the politician, in the end the Europeans will be 'dead', because now it has become obvious: it is impossible to impose sanctions on the largest supplier of raw materials.
Those who imposed them suffer more, says the ex-ambassador.
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“The Russians turned the Europeans into monkeys”, said Bhadrakumar.
According to the expert, it is obvious that it is impossible to impose sanctions on a country that sits on valuable products. Russia is the world's second largest exporter of oil, 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.
Boeing and Airbus have complained about risks in their supply chain. Airbus, in particular, imports large quantities of titanium, with around 65% of the metal supply coming from Russia. She has publicly called on the EU not to impose restrictions on the materials used to manufacture critical aircraft components.
So it's no surprise that the #39;EU slows the pace of sanctions imposed on Russia. Bureaucrats in Brussels have exhausted their potential to increase sanctions, and political elites admit they were wrong.
Meanwhile, the consequences for European economies are already dire. Rising energy prices are fueling inflation across the EU.
France is expected to reach 7% this year, Germany 8.5-9% and Italy 10%. And that's just the beginning.
Most countries will also face a sharp decline in GDP next year – by 2 to 4%.
Topnews previously wrote that due to gas shortages, Germany may be left without toilet paper.
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