Post
Topic
Board Economics
Re: Russian Gas ban - A problem for Europe or suicide for Russia?
by
EarnOnVictor
on 27/01/2023, 07:35:35 UTC


Also, Europe is doing well without Russia's energy, though it was not easy to adjust at first, but they are doing well. The world will always survive without those tyrants, no country has a monopoly on anything.

I will not rush to the conclusion that Europe is doing well without Russia's energy because, from what I have seen in the media, they are not doing very well. If they're really doing as well as you claim, their inflation hasn't been in double digits for the past 40 years, and things aren't getting any better either. Russia does not have an energy monopoly but is the most perfect supplier to Europe, if Europe had a better supply, they would be different now.
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This is not a matter of rushing to a conclusion, it's the fact that you can locate if you inquire and balance the reality together. For Europe which is historically the major buyer of Russian oil to have a plan to totally fade it away will not be a small task, and it takes time. They have done even more than what they believed was possible, so they deserve the kudos. And according to BBC recently, Russian oil brought by sea has been banned, and by the 5th of February, the refined ones would be banned too.

Europeans did not do it once, so it is not affecting them. They are strategic and would rather turn to other counties for more deals and supplies. Mind you, inflation is general, so don't say the energy ban is bitting, no, and global inflation is aggravated by the Russian-Ukraine war.