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Europe can’t last a week without Russian gas

In a post on his Telegram account, Mr. Medvedev cited a recent estimate by the International Monetary Fund (IMF) that Europe could endure a shortage of Russian gas for 6 months.

“But seriously, Europe won’t last a week,” Deputy Chairman of the Russian Security Council said.

European authorities are still trying to take measures to pressure Russia to end its military operation in Ukraine. Some countries have proposed ending exports of oil and gas, an important source of Russian revenue.

Moscow: Europe can't last a week without Russian gas - 1

Europe currently imports 40% of its gas from Russia. (Photo: AP)

However, many countries objected, saying the move would hurt their economies more than Russia.

Europe currently imports 40% of its gas from Russia.

Austria said on April 23 that it would not support imposing an order on Russian gas imports because that would harm Vienna more than Moscow.

“When punishment does more harm to yourself than to the person being punished, I don’t think (that punishment) should be used much”said Austrian Foreign Minister Magnus Brunner.

Last week, Austrian Chancellor Karl Nehammer said that a ban on Russian gas imports would not be supported by Austria, Germany and Hungary.

According to analysts, ending dependence on Russian energy sources will cause European countries to fall into an economic recession, the cost of living of people will be pushed up, inflation will increase. .

On April 22, the European Commission (EC) said that European Union (EU) businesses can comply with the payment system that Russia exports, pay for gas purchase contracts in rubles, does not violate EU sanctions against Moscow.

According to the guidance document sent by the EC to EU member states recently, the payment process offered by Russia is not covered by the bloc’s sanctions against Moscow. However, the EC also emphasized that “these payment procedures are currently unclear”.

Last month, Russian President Putin signed a decree requiring “unfriendly” countries to buy gas in rubles, including the US, EU member states, Britain, Japan, Canada, Norway, Singapore, South Korea, Switzerland and Ukraine.

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