Think surging natural gas prices are bad now? Well, Europeans’ pocketbooks are about to get a lot more depleted, as Russia no longer plans to play nice in response to Germany’s halting of Nord Stream 2.
Dmitry Medvedev, Russia’s former president and current deputy chairman of the Security Council, warned the European Union that it will soon pay double for natural gas supplies in response to halting Gazprom’s Nord Stream 2 pipeline. “German Chancellor Olaf Scholz ordered to stop the certification of the Nord Stream 2 gas pipeline. Well, welcome to the new world, in which Europeans will soon pay €2,000 per thousand cubic meters of gas!” he tweeted semi-ironically.
On Tuesday, Scholz announced that Germany will be withdrawing a report submitted to Berlin regulators that is otherwise vital to the certification process of the Gazprom pipeline. Germany’s decision to halt the pipeline’s approval follows Russian President Vladimir Putin’s recognition of the breakaway Donbass region, which is comprised of the Donetsk and Lugansk People’s Republics in eastern Ukraine.
Sponsored · Silver47 Exploration Inc.
To further escalate the situation in the interim, Russia’s parliament authorized Putin to send troops abroad, following an earlier request from the president. The Russian forces will likely be sent to Donbass to act as peacekeepers, but their services must be used in “accordance with the principles and norms of international law,” read to the Senate’s resolution, as cited RT News.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
