Brief: The Energy Crisis Continues For Now
Energy instability is likely to continue in the short- to mid-term, with the EU needing to urgently find a solution to the cost-of-living crisis.
Here by popular demand, The Brief is your breakdown of the ongoing crises and events happening in Europe, with a slightly more technical spin on it to satisfy your intellectual demands, curiosities, and interests.
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🇷🇺 A Prolonged Energy Crisis
Since the start of the Russian invasion of Ukraine, Europe has been suffering from the geopolitical use of gas, oil, and other energy sources as a weapon to ensure compliance.
Russia reduced the flow of gas in the Nord Stream 1 pipeline to 40% capacity in June, and then further reduced this to 20% in July
Russia typically supplies 40% of Europe’s natural gas, with 2021 having had a total of 155 billion cubic metres delivered
This economic blackmail has intensified in recent days, with Russia shutting down the Nord Stream gas pipeline to Europe citing “maintenance”.
A spokesperson for Vladimir Putin stated that “There are guarantees that, apart from technological problems caused by sanctions, nothing hinders the supplies.
This hints at several problems: