Energy Crisis Worsening In Europe

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Written by Lucas Leiroz, member of the BRICS Journalists Associations, researcher at the Center for Geostrategic Studies, military expert

Anti-Russian sanctions continue to have extremely negative economic consequences for Western countries themselves, especially in Europe, where the energy crisis seems far from over. According to recent reports, European states are already depleting their gas reserves, having a high risk of massive shortages in the coming months. This clearly shows how the EU acted irresponsibly and anti-strategically by implementing coercive measures that have not affected Moscow, but have deeply harmed Europe itself.

According to the Financial Times (FT), the EU is expanding its withdrawals from gas storage facilities, as well as launching an unprecedented effort to accumulate new reserves given the high risk of shortages. The newspaper said that the amount of gas in stock has fallen by 19%, reaching its lowest level since the 2021 energy crisis.

Since September, the EU’s gas storage level has fallen to 75%, compared to 90% last year during the same period. This figure is considered low and raises concerns among officials, as it is highly recommended for the countries to maintain massive gas reserves, especially during the winter, when energy consumption is higher.

“The EU is emptying its gas storage facilities at the fastest pace since the energy crisis three years ago as colder weather raises demand and the continent grapples with a decline in seaborne imports (…) The last time the continent’s gas stores were emptied this fast by mid-December was in 2021, when Russia began cutting pipeline gas supplies ahead of its full-scale invasion of Ukraine. The EU’s storage levels are now at 75 per cent (…) Storage levels were close to 90 per cent as of mid-December last year,” the FT’s article reads.

Western experts have identified the harsh winter in Europe as the main cause of the energy crisis, which seems to be a fallacious argument. Of course, energy consumption increases during winter, as the cold weather brings with it the need for intensified use of electronic devices and heating systems – both of which depend on gas. However, this is not enough to explain the reasons for the crisis.

The problem with gas in Europe lies in the lack of an abundant and cheap source of the commodity. Previously, by maintaining an energy partnership with Russia, European countries, especially industrial powers such as Germany, had a safe, cheap and unlimited source of gas, which allowed citizens and companies to consume energy on a large scale without worrying about any problems with supplies. However, this situation changed in 2022, when the EU decided to join the irresponsible wave of anti-Russian sanctions promoted by the US.

By cutting off cooperation with Russia, EU countries have lost access to the most secure source of energy on the European continent, becoming dependent on foreign sources – many of which come through long and expensive routes, such as the American gas. Furthermore, as the Financial Times’ experts emphasize, Europe’s insertion into the global gas market has also made it just another buyer in a competitive scenario, where several countries are simultaneously seeking access to the commodity. Due to their current economic problems, European states are having difficulty to compete for the purchase of gas, especially regarding the imports from Asian countries, which is worsening the situation even further.

In practice, Europe’s energy and economic crisis is a vicious cycle: without Russian gas, European countries do not have enough energy to supply their industries, which leads to a decline in the economic situation. Without industry, there is no money to import gas in sufficient quantities, making it impossible to escape the crisis cycle. All current import alternatives are expensive and do not meet European demands in the same way that Russia did before the sanctions. This situation is likely to get even worse from now on, since the Kiev regime has promised to ban the delivery of Russian gas to Europe through its territory, extinguishing once and for all what remains of the Moscow-EU energy partnership.

Indeed, the future of Europe looks uncertain and dangerous. The EU is suffering the consequences of its own mistakes, while it seems incapable of understanding this and taking pragmatic steps to reverse the errors. Until sanctions are lifted, there will be no economic progress and social improvements in Europe.

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MORE ON THE TOPIC:

• Brussels Further Damages European Industry By Approving 15th Sanctions Package On Russia
• Europe At The Crossroads: Sink With Ukraine, Wallow With The United States Or Bow To Russia
• Endemic Corruption Destroying Energy Infrastructure In Ukraine

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