5 ms·

It's about controlling the supply of oil and gas to Europe. Putin didn't get his pipeline. This is the unfortunate alternative.

csee 5y ago
No. He was about to get Nord Stream 2 through, which doens't run through Ukraine, and now he got it shut down.
- Evgenii1 5y ago
  Temporary pause in licensing from Germany not 'shut down'. Germany has no choice but to buy Russian gas where else are they going to get energy from to run their huge GDP country
  - hilbertseries 5y ago
    Gas makes up 10 percent of energy usage. More of a concern for heating and industries requiring it. But they can start investing in retrofitting and other sources now.
    - jdkee 5y ago
      Too bad Germany decided to shut down its nuclear plants. See https://www.bloomberg.com/opinion/articles/2022-01-25/what-the-u-s-can-learn-from-germany-s-nuclear-power-plant-shutdowns https://www.bloomberg.com/opinion/articles/2022-01-25/what-t...
      - nate_meurer 5y ago
        This needs to be repeated at every opportunity. I believe history will ultimately judge this as Merkel's greatest failure, and I say that as a fan of her's.
friedturkey 5y ago
Ironically, Russia was pretty comfortably selling oil and gas until Putin decided he wanted to destroy his country's industry. I don't think anyone hates the Russian people as much as he does.
onlyrealcuzzo 5y ago
This is going to be the strongest push to get Europe of Russia's gas ever seen. Winter is 2/3rds over. If it's only about oil - this is incredibly short sighted. As others have mentioned - Nord Stream 2 circumvented Ukraine. All was well for oil. This blows that up in his face. The ruble is down ~14% since this started. MOEX is down ~20% on top of that. Corporate debt yields are up from ~1% to ~8%. This has erased almost 40% of Russia's private wealth in the span of a month. For anyone thinking - BUT THE PRICE OF OIL IS GOING UP!!1! Not Russian Oil - it's going down: https://www.aljazeera.com/economy/2022/2/22/russian-oil-sells-at-deep-discount-on-ukraine-crisis https://www.aljazeera.com/economy/2022/2/22/russian-oil-sell...
- voisin 5y ago
  > This has erased almost 40% of Russia's private wealth in the span of a month. Just wait until Putin announces the pívot to the metaverse.
- q1w2 5y ago
  This is why Russia has been quietly funding all the anti-nuclear movements in the west. ...to keep the west addicted to his oil and gas.

csee 5y ago

No. He was about to get Nord Stream 2 through, which doens't run through Ukraine, and now he got it shut down.

Evgenii1 5y ago
Temporary pause in licensing from Germany not 'shut down'. Germany has no choice but to buy Russian gas where else are they going to get energy from to run their huge GDP country
- hilbertseries 5y ago
  Gas makes up 10 percent of energy usage. More of a concern for heating and industries requiring it. But they can start investing in retrofitting and other sources now.
  - jdkee 5y ago
    Too bad Germany decided to shut down its nuclear plants. See https://www.bloomberg.com/opinion/articles/2022-01-25/what-the-u-s-can-learn-from-germany-s-nuclear-power-plant-shutdowns https://www.bloomberg.com/opinion/articles/2022-01-25/what-t...
    - nate_meurer 5y ago
      This needs to be repeated at every opportunity. I believe history will ultimately judge this as Merkel's greatest failure, and I say that as a fan of her's.

friedturkey 5y ago

Ironically, Russia was pretty comfortably selling oil and gas until Putin decided he wanted to destroy his country's industry. I don't think anyone hates the Russian people as much as he does.

onlyrealcuzzo 5y ago

This is going to be the strongest push to get Europe of Russia's gas ever seen. Winter is 2/3rds over. If it's only about oil - this is incredibly short sighted. As others have mentioned - Nord Stream 2 circumvented Ukraine. All was well for oil. This blows that up in his face. The ruble is down ~14% since this started. MOEX is down ~20% on top of that. Corporate debt yields are up from ~1% to ~8%. This has erased almost 40% of Russia's private wealth in the span of a month. For anyone thinking - BUT THE PRICE OF OIL IS GOING UP!!1! Not Russian Oil - it's going down: https://www.aljazeera.com/economy/2022/2/22/russian-oil-sells-at-deep-discount-on-ukraine-crisis https://www.aljazeera.com/economy/2022/2/22/russian-oil-sell...

voisin 5y ago
> This has erased almost 40% of Russia's private wealth in the span of a month. Just wait until Putin announces the pívot to the metaverse.
q1w2 5y ago
This is why Russia has been quietly funding all the anti-nuclear movements in the west. ...to keep the west addicted to his oil and gas.