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The pivotal day of May 9 came and went, without Vladimir Putin announcing the “fate of the world.” This does not mean that the future is not bleak enough… Especially in a period of fragile recovery from the pandemic recession.
Volodymyr Zelensky wondered “what price will Russia, which brought the war back to Europe, pay?” The opposite, however, seems to be plaguing the European Union, which is also facing the economic costs of war, which are now apparent. The planned sixth package of EU sanctions against Russia, including the embargo on Russian oil, is necessary, the Ukrainian president reiterated, while the relevant proposal of the Commission is on the negotiating table. Josep Borrell, however, said he hoped an agreement on an EU oil embargo on Russia would be reached soon.
The Russian Foreign Minister responded that “the European Union is completely based on the line of Washington and has no independent foreign policy”, in a press conference after his visit to Algeria. It is recalled, finally, that the initial goal was for the sixth package of sanctions to enter into force on 9 May, which was not possible. In any case, the foreign ministers will meet next Monday, while the president of the European Commission, Ursula von der Leyen, welcomed the “progress” made during the talks with the Prime Minister of Hungary, Viktor Orban. This is the “difficult” member of the Union.
A catalytic development is the announcement of the management company of the gas transmission system of Ukraine GTSOU. “Due to force majeure, it will stop the transport of Russian gas to Europe via the Sohranifka station from today, Wednesday, May 11th.” This is a decision that hastens the fatal… The company also notes that “the Novopskov compressor station is the first of the compression stations of the Ukrainian GTS in the Lugansk region, through which almost a third of natural gas (up to 32.6 million cubic meters) meters per day) is channeled from Russia to Europe “.
The company also added that at present its employees cannot “exercise operational and technological control over Novopskov CS and other assets located in these areas”. Russian energy giant Gazprom said tonight that it was not technically possible to divert gas flow to Ukraine to a new entry point, as suggested by GTSOU, the management company of Ukraine's gas transmission system.
According to information from European publications, specifically the Spanish el pais, the Commission is considering alternatives in the event of an energy blackout. Just the fact that such a thing is treated as possible, is enough to worry. The Commission will present on 18 May an emergency plan for the actions to be taken in the near future. Among them, in fact, are included the “Sundays without cars”! In essence, the famous contingency plan is based on the Regulation on Security of Supply, which has been in force since 2017.
So on the table are measures such as:
& # 8211; Teleworking up to three times a week, which can save up to 500,000 barrels of oil. One day of teleworking equates to 170,000 fewer barrels of oil per day.-
& # 8211; Sharing a car with other people and mild financial support means 470,000 fewer barrels.
& # 8211; Reducing speed limits on highways by at least 10 kilometers per hour equals 430,000 barrels less.
& # 8211; Sundays without cars in cities means 380,000 barrels less, while the use of single-scales in cities saves 210,000 barrels of oil. To save energy are also proposed: limiting the number of air travel for business purposes, using electric vehicles and trains instead of airplanes.
The aim is to ensure energy efficiency, primarily for households and vital public services, as well as for those sectors of production that are vital (as was the case with the first lockdowns of 2020, after the pandemic broke out. Covid-19).
With this and that, European stock markets are coming under pressure. European stocks, however, have recovered from the low levels of the last two months. Markets, however, can not ignore the high global inflation that continues to climb. He in combination with an energy crisis produces a flammable economic cocktail that can produce a global unpleasant situation…
US awaits Russian attack on Transnistria and Europe energy shock
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