A Fresh Take on the Gas Talks
Ushakov acknowledges talks on restarting gas supply to Europe from the United States
Hey there! It's about that gas situation between Russia and the US, and its potential impact on Europe.
The gist is, according to various reports, negotiations are happening, with Russia and the US discussing the possibility of restarting Russian gas supplies to Europe. These talks are part of their broader discussions on finding a peaceful resolution to the issues in Ukraine.
However, it's worth noting that the Russian Direct Investment Fund denied any such negotiations are currently underway. This news comes as Reuters reported that the presidential aide, Kirill Dmitriev, had indeed discussed the potential resumption of supplies with U.S. President’s special envoy Steve Biegun.
Now, if these talks bear fruit, American investors could buy a stake in Nord Stream, Ukrainian transit, or even Gazprom itself. They could then sell this gas to Europe, including Germany. This move would help Moscow overcome the political opposition in many European countries, and the U.S. would gain the ability to monitor and potentially control the gas volumes going to Europe.
Interestingly, Gazprom shares surged due to this news. However, the European Commission, which is against this idea, chose not to comment on the matter. The Commission has proposed a plan to phase out existing spot contracts by the end of 2025 and all remaining Russian gas imports by the end of 2027. This plan has already faced criticism from Hungary and Slovakia.
The Russian Energy Minister, Sergei Shmatko, deemed any potential EU sanctions on Russian gas purchases as illegal and counterproductive. He assured that Russia would find a way to supply its products to interested parties.
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The Bigger Picture
The ongoing discussions between Russia and the US have several implications:
- Energy Security and Revenue: Restoring Russian gas exports would help stabilize Europe's energy supplies and generate significant revenue for Russia. This could incentivize Russia to put an end to hostilities in Ukraine as part of a potential ceasefire agreement.
- Geopolitical Stability: Successful negotiations might contribute to geopolitical stability by resolving the Ukraine conflict.
- EU Policy on Russian Energy: The EU is considering stricter restrictions on Russian energy imports, aiming to ban new deals by the end of 2025 and phase out existing ones by the end of 2027. Resuming Russian gas supplies would necessitate careful consideration of these policies, and some EU member states might resist this move.
The stakes are high for all parties involved, with Russia eager to regain revenue and potentially influence the geopolitical situation, the U.S. cautiously facilitating these discussions to achieve a peaceful settlement in Ukraine, and the EU divided on the matter due to the ongoing conflict. Ukraine's position is crucial but less direct in these negotiations.
- Despite denials by the Russian Direct Investment Fund, American investors are considering the possibility of acquiring stakes in Nord Stream, Ukrainian transit, or Gazprom itself, a move that could see them sell gas to Moscow's allies in Europe, including Germany.
- In contrast to the potential profits to be gained, the European Commission has proposed a plan to phase out existing spot contracts by the end of 2025 and all remaining Russian gas imports by the end of 2027, a decision that has already faced criticism from Hungary and Slovakia.
- For Moscow, any potential EU sanctions on Russian gas purchases would be deemed illegal and counterproductive, while for those invested in sports and international relations, the ongoing discussions between Russia and the US, particularly in the context of Moscow and the upcoming Winter Olympics in Moscow, carry significant geopolitical weight.
