Ursula Von der Leyen “trumpeted” the European counterattack and Janet Yellen gave the “signal” to the G7 for a price ceiling – Athens has long been preparing for the coming crisis
By Chrysostomos Tsoufis
The pawns on the energy chessboard after many days of stagnation have moved. The West decided to act in concert to impose double ceiling in Russian energy products, with Russia reacting immediately by announcing, through Gazprom, that it will not restart the Nord Stream 1 pipeline tomorrow, as planned, due to an oil leak at a compressor station.
The American Secretary of the Treasury Janet Yellen, she called her G7 counterparts on the phone and together they decided to impose ceiling on the purchase price of Russian oil. And now, according to Christian Lindner of Germany, they will start a campaign to find people willing to follow, as in order for the measure to succeed, according to analysts, countries such as China and India, which maintain very good relations with Moscow, need to say YES.
The decision of the 7 most powerful on the planet was the catalyst for the developments within the EU. Ursula Von der Leyen is encouraged trumpeted the European counterattack saying that the time has now come for her imposing a cap on Russian natural gas which is coming to Europe with pipelines spreading smiles in Athens as well as the ceiling on natural gas has been a proposal of Kyriakos Mitsotakis since the beginning of the energy crisis.
A few hours after the announcements from the G7 and the Commission, Gazprom suddenly announced that the Nord Stream 1 will not be restarted tomorrow Saturday.
Analysts are divided. On the one hand the devotees of the cap who argue that especially in a damaged market like that of natural gas in which Russians and speculators are hammering the cap are out of nowhere. On the other hand, those who believe that the ceilings work as a boomerang many causing even worse problems.
In this climate Greece is prepared for any eventuality. It has already reduced its reliance on Russian natural gas to single digits while the government prepares additional measures to support households and businesses with energy-saving incentives, incentives to substitute natural gas and electricity for heating and subsidies to ensure households do not thaw out winter. In addition, at the meeting of the Ministers of Energy on the 9th of the month, Mr Kostas Skrekas it is expected to request a European financial instrument.
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