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Russia Called the ‘Princess’ of the Crisis in Europe, How come?

Jakarta, CNBC IndonesiaEnergy crisis now attacking Europe. This is indicated by the deficit in the supply of natural gas to the continent which has also helped to raise global gas prices to the highest level.

Several countries have already started sounding the alarm due to this. France and Spain said this increase would have an impact on increasing the basic electricity tariff which led to inflation.

This is exacerbated by Europe which will soon enter winter. Where the demand for gas is increasing rapidly.

“This crisis is unfair, inefficient and expensive for citizens and businesses. It’s time for a European response. It’s time to look at the energy market,” said French Finance Minister Bruno Le Maire, quoted from the statement. Financial Times, Wednesday (6/10/2021).

In this crisis, many parties in the Blue Continent began to blame Russia. This is because the supply from the Red Bear Country has decreased sharply, which is thought to be part of a political maneuver.

Until now, Russia is the largest natural gas supplier to Europe. The percentage reached 43.4%.

Last month 40 members of the European Parliament wrote a letter accusing Russian company Gazprom of manipulating gas prices. In the indictment, the lawmakers said the reduced gas flow was an attempt by Moscow to pressure Europe into activating the Nord Stream 2 gas pipeline.

The Nord Stream 2 gas pipeline, which runs from Russia to Germany via the Baltic Sea, is one of the projects between the two countries that have been completed. However, Germany refused its activation due to sanctions from the strategic partner of the European Union (EU), the United States (US), against Russia.

It is alleged that the Kremlin reduced gas flows to Europe via Ukraine. This is so that the EU and Germany are willing to reactivate the pipeline.

The US itself has also reacted to this crisis. US Energy Secretary Jennifer Granholm said that Europe is currently threatened by the issue of rising gas prices played by Russia.

“The US has made clear that we and our partners must be prepared to stand by when any player might manipulate supply to their advantage,” Granholm said at an online news conference in Warsaw, Poland.

Meanwhile, European Union Economic Commissioner Paolo Gentiloni said the European Commission would present an energy policy package in December. It will explore the block’s role in natural gas procurement and greater storage options.

[Gambas:Video CNBC]

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