They shall, as a demonstration of their resolve, freeze their own citizens into misery and deprivation.
Europe’s descent into an economic contraction looks to have been confirmed with Russia squeezing natural gas supplies to the region and heavy industry facing tough rationing in the coming months.
Just days after Europeans breathed a sigh of relief as Russian gas giant Gazprom announced it would resume supplies through the Nord Stream 1 pipeline, it then announced Monday that flows would be reduced yet again.
The announcement, with Gazprom saying it would be for maintenance of a turbine along the pipeline, was greeted with incredulity and condemnation in Europe.
Ukraine’s president, Volodymyr Zelenskyy, said the move — which will see flows to Germany fall to 20% of its capacity from an already low level of 40% — was tantamount to a “gas war” with Europe. Germany’s economy minister, Robert Habeck, said the excuse that maintenance was the reason for the supply cut was a “farce.”
It puts Europe in a tricky situation as it contends with rampant inflation, the war in Ukraine and an already troubled supply chain following the Covid-19 pandemic.
Germany, the region’s largest economy and traditional growth driver, has a particular reason to worry. It’s largely reliant on Russian gas and is sliding toward a recession. The government is particularly concerned about how it will keep the lights on over the winter: Habeck said Monday evening that “we have a serious situation. It is time for everyone to understand that,” during an interview with broadcaster ARD.
Play stupid games, win stupid prizes.
