Almost all EU economies are determined to beat the addiction to Russian energy. Some EU countries have already terminated their purchases of Russian petroleum products. Nevertheless, the complete embargo is on the horizon. The International Energy Agency has called on the EU authorities to push ahead with their efforts and terminate Russian gas exports this winter. “Europe should be ready in case Russian gas is completely cut off,” EIA Executive Director Fatih Birol told in an interview. The Kremlin intends to manipulate gas supplies to bolster its political leverage during the war with Ukraine. The official praised the emergency measures taken by European governments to reduce gas demand. In particular, Fatih Birol approved of relaunching old power plants running on coal. He believes that such decisions are appropriate in the face of a looming energy shortage.
The EIA leader admits that reopening idled coal-fired stations will be a temporary measure to preserve available gas supplies for heating in the winter.
Russian gas supplies to Europe dwindled in recent months, partly because some countries refused to adjust the ongoing contracts to the new scheme offered by Moscow. In the spring, the Kremlin suggested that buyers settle payments for gas in rubles and open two accounts in euros and rubles in Gazprobank. Another formal reason is an ongoing equipment issue at the Portovaya compressor station, part of the Nord Stream 1 pipeline.
