... explode to 150 or even 200 dollars. The EU also depends on Russia for supply of 41% of the EU’s gas. The EU has no alternatives to Russian gas. Germany and its industry even depends more than 50% on Russian gas. This also puts some break on “financial sanctions”.
Andrey Kortunov:
The end of diplomacy? Seven Glimpses of the New Normal
If Russia cannot get paid for gas, and enjoy the proceeds from gas sales stored by the Bank of Russia, then gas supplies to Germany—and with that German industry—can stop tomorrow. Finally, Germany has ...
... programs of import substitution, accumulating foreign exchange reserves, expanding trade with China and deepening political and military-technical cooperation with its partners across the CSTO. The West has established various formats and mechanisms of sanctions pressure, boosting NATO’s eastern flank and increasing policy coordination both within the Alliance and within the European Union as well as military-technical assistance to Ukraine, while consistently attacking Russia in a variety of international ...
... financial sectors, and by treating Moscow the same way the US treated Tehran during the four Trump years. However, bringing sanctions to a new level would create too many risks for the global economic system in general and for the US economy in particular.... .... It will also try to keep Eurasia divided by forging stronger ties to Chines adversaries in Asia—above all, to India.
12. Diplomacy
Biden may decide to stop the ongoing “diplomatic war” with Russia—he arguably values professional diplomacy much ...
