Times: Britain fears restrictions on Russian gas supplies to Europe due to sanctions British officials believe that sanctions against Russia over Ukraine will lead to a reduction in Russian gas supplies to Europe, which, in turn, will negatively affect prices
British government officials fear that possible Western sanctions against Russia over the situation around Ukraine will lead to a reduction in Russian gas supplies to Europe, The Times reports, citing sources.
According to the newspaper, the British Cabinet expects that in the event of the introduction of sanctions, Russia will be able to use its natural resources as a “weapon” and will limit supplies.
According to the sources of the publication, members of the government previously participated in a meeting at which they assessed how the reduction in supplies would affect the United Kingdom. There is no direct risk of gas shortages, they said, but the conflict will push fuel prices to new record levels.
“Unlike some countries, the UK practically does not import Russian gas, — said one of the interlocutors.— But, like all countries, we are at risk of rising wholesale prices, which will become a serious problem if Russia further restricts supplies.
About half of the gas entering the British market is produced offshore the North Sea, about a third is exported from Norway, the Times notes. The rest— supplies of liquefied natural gas (LNG), Britain's fears are that they will rise in price.
In 2020, the UK received less than 3% of gas from Russia, a government spokesman told the newspaper. Other European countries are much more dependent on Russian fuel, the newspaper writes: the share of deliveries to Germany is about 40%, and countries such as Sweden and Finland are “almost completely dependent on it.”
The EU has previously warned that due to the geopolitical situation, Europe will soon face “unusually high energy prices.” invade” to Ukraine (the Russian authorities have repeatedly denied this). Among the restrictions being considered in the US are — measures against the Russian Nord Stream 2 gas pipeline.
However, the sanctions that Europe will impose in the event of Russian “aggression” will not affect the pipeline, Austrian Foreign Minister Alexander Schallenberg said. “We in Europe are to a certain extent dependent on energy from Russia. <…> We can't change that overnight if we suddenly need heat and electricity,” — he explained.
The US Ambassador to the UN, Linda Thomas-Greenfield, is sure that Russia will not be able to cut off gas to Europe in response to sanctions, since this is not in the interests of Moscow itself. The Kremlin has repeatedly said that Russia does not use gas as a weapon.
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