Solely Norway ranks larger among the many bloc’s pure fuel suppliers, and each are forward of the US, a prime assume tank estimates
Russia has overtaken the US to as soon as once more turn out to be the second-largest provider of pure fuel to the EU; the symbolism of the event is “enormous,” the German newspaper Die Welt reported on Sunday, citing evaluation.
Brussels declared the elimination of its reliance on Russian power as considered one of its key priorities after hostilities within the Ukraine battle broke out in February 2022. Costly US liquified pure fuel (LNG) crammed up a big portion of the market, exacerbating financial crises all through the EU.
Within the second quarter of 2024, Russian fuel accounted for roughly 17% of all European imports, simply forward of provides from the US, Welt famous, citing the Brussels-based think-tank Bruegel. In line with its figures, European clients acquired 12.27 billion cubic meters of US LNG over that interval or time, whereas Russia delivered 12.73 billion cubic meters to the bloc.
The Russian provides embrace each LNG and pipeline fuel, which flows to the EU by way of Belarus and Ukraine and thru the TurkStream undersea fuel pipeline. Kiev, which receives transit charges for gas delivered by means of its territory, threatened to droop operations after the present contract expires on the finish of 2024. Nevertheless, it has indicated that it’s open to 3rd nations, resembling Azerbaijan, stepping up their use of Soviet-built infrastructure.
Dmitry Birichevsky, head of the financial cooperation division on the Russian International Ministry, has described the fuel import dynamics as a testomony to the failure of EU sanctions coverage.
“Whereas it’s true that the symptoms are considerably decrease than earlier than 2022, the information converse for themselves,” he instructed RIA Novosti on Monday. “Greece alone has ramped up the acquisition of Russian fuel fourfold over 2023.”
The US has sought to switch Russia as an power provider to Europe since earlier than the Ukraine battle. The administration of President Donald Trump infamously branded American LNG “molecules of freedom”, when it pressured the EU nations to pick out it over Russian fuel. Norway has traditionally been the highest provider of fuel to the market.
Moscow now considers the EU an unreliable buyer, which has proven that it’s keen to let US political objectives trump European financial wants.
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“Beneath the circumstances of the de facto financial battle declared on us, our plans to redirect international commerce to the nations of the International South and East stay a precedence,” Birichevsky mentioned.
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