Post
Topic
Board Economics
Re: Russian Gas ban - A problem for Europe or suicide for Russia?
by
Smartprofit
on 13/02/2023, 11:13:37 UTC
I read that in the 70s of the last century there was a similar situation - the Arab countries imposed an embargo on the supply of energy carriers to Europe. 

And this led to an economic crisis in Europe, in particular in Germany.  At that time, restrictions were placed on the use of private cars by Europeans. 

From this we can conclude that the Kremlin's view of the Europeans as pampered crybabies who run to give up at the first serious difficulty is absolutely wrong.  This is a typical example of cognitive bias.  The Germans and other Europeans accepted this challenge with dignity and reduced their gas consumption at home. 

At the same time, this situation is catastrophic for the future of Russia, since it has lost the most important irreplaceable resource - the reputation of a reasonable and respectable counterparty.