Russia Just Targeted Poland – An Abrupt Ploy
(UnitedReader.com) – With the ongoing Russia-Ukraine conflict and the sanctions much of Europe and the US have imposed on Russia, it was only a matter of time before Putin retaliated. Unfortunately for much of Europe, Russia is its main source of natural gas. Now, the Kremlin is attempting to leverage its assets against Bulgaria and Poland.
Russia will cut off the gas to Poland and Bulgaria on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine https://t.co/NpxP087HvX
— Bloomberg (@business) April 26, 2022
Gazprom, an energy giant in Russia, has asserted it would stop sending natural gas to Poland and Bulgaria if they didn’t pay for the resource in rubles, Russia’s currency. Oxford Institute of Energy Studies researcher Katja Yafimava warned Bloomberg that any country not complying with Putin’s demands would risk having their supply capped. Fuel prices across Europe spiked 17% following reports of Russia’s intentions, according to Daily Caller.
The New York Times reported that while Poland relies on Russia for around 45% of its natural gas, it’s better off than other countries in the region as it relies on coal-powered plants to produce electricity.
Bulgaria is also at risk of losing its natural gas supply from Russia, but it also doesn’t rely on the resource nearly as much as other members of the EU. The southeastern European country doesn’t use natural gas for commercial or residential use, instead only using it for industry.
President Biden, in March, came to an agreement with the EU that the US would supply an additional 529.72 billion cubic feet of US-sourced natural gas. The deal is part of an effort to help Europe secede from reliance on Russian energy. The only question is: How will this impact prices for Americans?
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