US, Europe plan for any cutoff of Russian natural gas

Follow us on Social Media

Social sharing
1000x563 cmsv2 53c7d3da 9f26 52e2 ba55 dc7110231605 6427778

US and European officials are coordinating with natural gas suppliers around the globe to cushion the impact if Russia were to cut off energy supplies in the conflict over Ukraine, Biden administration officials say.

The US and European allies have promised punishing economic and political sanctions if Russia moves its military into Ukraine, but worry about repercussions for Europeans from any such sanctions, including Russia potentially cutting off delivery of its natural gas to Europe at the height of winter.

Putin has deployed roughly 100,000 troops near Ukraine’s border for weeks, sparking a diplomatic crisis for Europe and the United States. He denies any intention of invading.

Any US and European measures against Russia in the event of an invasion “also have consequences for others, including us,” Secretary of State Antony Blinken said in remarks as part of a lecture series Monday night.

“There’s a cost imposed on everyone,” Blinken said. “But we have done a tremendous amount of work to mitigate any effects of sanctions on those…imposing them, as well as any retaliatory action that Russia might take.”

Two senior US administration officials separately briefed reporters on Tuesday about efforts by Biden’s national security team to deal with any knock-on effects from sanctions. The officials spoke on the condition of anonymity to discuss the deliberations.

If needed, Europe would look to natural gas supplies in North Africa, the Middle East, Asia and the United States. The effort would require “rather smaller volumes from a multitude of sources” to make up for a Russian cutoff, according to one of the officials.

The Biden administration has acknowledged that President Vladimir Putin has a high tolerance for the damage to Russia’s economy that would come with sanctions. But officials said that the “start high, stay high” approach to penalties they have warned the Russians they would take in negotiations could have an impact on Putin’s calculations.

One official said that sanctions that could spur inflation in Russia “in the mid-teens” and a deep recession that would not help Putin “win hearts and minds” among Russians, according to the second official.

In the United States, a group representing large industrial energy users and manufacturers that opposes export of US natural gas appeared open to considering an exception for helping Europeans weather any possible cut-off of Russian natural gas.

The group, Industrial Energy Consumers of America, has asked Energy Secretary Jennifer Granholm to limit exports of liquefied natural gas, or LNG. Surging US exports have helped drive up natural gas prices, the group argues.

Paul Cicio, the group’s president, told reporters on Tuesday that his group has not taken a position on how the US should respond to tensions between Russia and Europe over natural gas.

“My own personal view is that if Europe needs gas, the U.S. should be there to supply our allies,″ Cicio said, noting that China is the top recipient of US gas exports.

“Do we have capacity to supply our allies? Absolutely,″ Cicio said. “But maybe we don’t have capacity to ship to China. So we need to be sensitive to the political crisis. It’s a real serious thing.”

Source

Leave your comment on this post

THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN

WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.

Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi

The economic crisis and hardship in Nigeria are parts of the discussion.


Watch, leave your comments, and share to create more awareness on this issue.


#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com

Leave your comment

Click on the link below or Scan the QR Code to join the 9News Nigeria WhatsApp Channel

9News Nigeria Investigative Reports WhatsApp Channel
9News Nigeria Investigative Reports WhatsApp Channel
About 9News Nigeria 13372 Articles
9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: info@9newsng.com Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng

Be the first to comment

Leave a Reply