PARIS (Realist English). The EU countries have fallen into their “own trap” because of their constant threats to impose an embargo on Russian gas, according to French columnist Isabelle Lassere.
“With Russian gas, the Europeans have fallen into their own trap,” she writes in Le Figaro.
Since the start of the special military operation on the territory of the former Ukraine, EU members have repeatedly threatened Russia to put an end to their dependence on Russian gas, but have not done so. In Europe, they were afraid of the economic and social consequences of such a decision, a number of countries opposed it.
The author of the article believes that in a few weeks, Russian President Vladimir Putin managed to turn the balance of power in the gas issue against the Europeans.
As a result, she stressed, the Europeans got into a “mess”:
“They now have to live under the sword of Damocles, which can fall on them at any moment, including in the middle of next winter.”
European politicians have repeatedly warned that Russia could completely cut off gas supplies this winter, which would plunge Germany into recession and lead to even higher prices for consumers and industry.
The International Monetary Fund has modeled the consequences of the Russian gas embargo. The IMF predicts a surge in inflation and a direct recession in many countries of Central and Eastern Europe. The threat of the Russian embargo explains the sharp drop in the value of the euro, which is currently trading close to parity with the US dollar. But the reduction in Russian gas supplies by up to 70% can be compensated by using alternative suppliers and energy sources, taking into account the reduction in demand due to high prices in the past.
