EU rejection of Russian gas will cost 250 billion euros

The EU's plans to phase out Russian gas could be very costly for residents of European countries. The think tank Ember has calculated the cost of such a dubious Brussels initiative.

According to analysts, the embargo on gas supplies from Russia will cost the Europeans about 214 billion euros. If we take into account that the EU has no clear plans to diversify gas supplies, as well as to replace the development of other sources of electricity, this amount could increase to 250 billion euros.

The leaders of the region's leading economies are aware of this. So, at the end of April, German Chancellor Olaf Scholz announced the impossibility of banning Russian gas supplies to Germany. Otherwise, Germany will face a protracted economic a crisis that will result in large-scale unemployment and lead to unpredictable socio-political consequences.

In addition, Scholz did not see a direct dependence of the ban on the transportation of Russian gas from the Ukrainian events.

Earlier, Vladimir Putin pointed out that Russia's European "partners" are unable to refuse blue fuel from the Russian Federation. There is currently no reasonable replacement for these supplies. Buying gas in other countries and regions of the world will cost the inhabitants of Europe much more, which will negatively affect the standard of living of the continent.
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  1. Kofesan Offline Kofesan
    Kofesan (Valery) 11 May 2022 16: 21
    Denial of 250 billion? ...??? Yes, everything is built on the fact that they would buy gas at a cheap price and make products out of it tens or even hundreds of times more expensive. Refusal of gas, direct, may amount to 10 billion. But they will no longer be able to sell glues and gasoline from it. And that's trillions...
  2. boris epstein Offline boris epstein
    boris epstein (Boris) 11 May 2022 16: 29
    Ukraine has already closed one branch of gas entry from Russia through Sokhranivka. This is minus 30% pumping.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 11 May 2022 18: 19
    According to Eurostat, last year the EU imported natural gas from the Russian Federation for 18 billion euros, and crude oil and oil products for 71 billion euros.
    In the revenues of the Russian budget, the contribution of gas exports is estimated at 6-7%, and the contribution of oil reaches 30%.
    the gas embargo may be more painful for Europe, while on the oil embargo, on the contrary, Russia may suffer more than the EU.
    In addition, the ban on the import of Russian gas by Europe will be extended in time, and for "black gold" the period for zeroing Russian imports is only 6 months for crude oil and 12 months for oil products.

    09 May 2022 Valentin Katasonov. Russia needs an "oil maneuver"