Credit: Andrey Rudakov/Bloomberg/Getty
But Europe’s energy needs are stopping many countries from taking even stronger action on the economic front. Russia supplies the European Union with around 40% of its natural gas, as well as about 25% of its oil and almost 50% of its coal. And this trade is continuing. It’s a weakness that Putin has exploited. Last week, he passed a decree stating that the gas supplies of “unfriendly” nations would be turned off if customers didn’t pay in roubles .
Whatever happens, the threat is a sign that the EU needs to accelerate its efforts to relinquish its dependence on Russia’s fossil fuels. It also underscores something that researchers who study climate, energy and economics have been saying for decades: that climate security and energy security are linked.say that European countries should be able to get through the next winter without Russian imports or power outages.
Whether or not European countries decide to stop buying Russian gas, they will almost certainly experience considerable economic pain as prices continue to increase. With many businesses unable to withstand the coming shocks unaided, and the resulting potential for job losses, governments will have no option but to step in with relief.
But at what cost?
Then do it
Let‘s properly mention the strategic dilemma: Europe pays for the Russian weapons in Ukraine. If not, as Putin has indeed prepared before hostilities, China is an eager substitute. Additionally Saudi Arabia gets emboldened. It is high time to exorcise any Mephistophelian seducer.
Or better yet: end Putin and meet the future without a threat of nuclear apocalypse.
No country can quickly convert to renewables while every country is trying to convert. It is gonna take yrs. to ramp up production to meet demand.
Use nuclear power and research more into fusion energy which get budget less than 0.01% of spending on import