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Post: France announces record revenue from Russia’s gas supply to Europe


Employees at a gas distribution station. archive photo

French Echos writes that Russia will receive a record $100 billion from EU gas sales

MOSCOW, May 20 – RIA Novosti. Russia could receive a record $100 billion for gas supplies to Europe this year amid the sharp rise in blue fuel prices. Writer Vincent Colin, columnist for the French newspaper Echos, in an article citing Citi analysts.

The author of the publication noted that EU members are sending $200 million a day to Gazprom despite “sanctions, loud statements and promises of embargoes”.

“Thanks to the sharp rise in prices, Russia should get $100 billion for gas delivered to Europe this year, which is almost double what it was in the past when prices were already high. And that does not include revenues from oil, coal and other crude oil. substances,” says Colin.

According to him, Russia won the first round of the “energy war” because even if the European Union starts to buy a little less gas, the jump in prices will make up for the drop in supply.

By threatening an embargo and taking no action, the Europeans fell into a trap, in which case Vladimir Putin gains the upper hand.

The Echos watchdog also noted that Gazprom’s super profits fully paid for the Nord Stream 2 gas pipeline.

European countries are faced with rising energy prices and an increase in inflation due to the sanctions imposed on Russia after the start of the special operation against Ukraine. The measures mainly affected the financial sector and the supply of high-tech products, but calls to reduce dependence on Russian energy sources in Europe were louder and many brands announced that they were withdrawing from Russia.

The Kremlin described these restrictions as an economic war, but noted that it was ready for such a development of events. The Central Bank of Russia is taking measures to stabilize the situation in the foreign exchange market; gas supply payments to enemy countries were transferred to rubles. The government also drew up a plan against restrictive measures, which included about a hundred initiatives. The amount of its financing will be about one trillion rubles.

Read the full text of the article on the website InoSMI>>

Source: Ria

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