https://en.sputniknews.africa/20240426/ban-on-russian-lng-will-hit-europeans-hard-in-wallet-without-shaking-russia-expert-says--1066246407.html
Ban on Russian LNG Will Hit Europeans Hard in Wallet Without Shaking Russia, Expert Says
Ban on Russian LNG Will Hit Europeans Hard in Wallet Without Shaking Russia, Expert Says
Sputnik Africa
The European Union has been facing inflation and a massive energy crisis as part of the post-pandemic global economic recession. The situation has further... 26.04.2024, Sputnik Africa
2024-04-26T10:41+0200
2024-04-26T10:41+0200
2024-04-26T11:31+0200
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The possible ban on Russian liquefied natural gas (LNG) exports to the European Union will hit Europeans hard in their wallets without shaking Russia, Igor Yushkov, an expert from the Financial University under the Government of the Russian Federation, told Sputnik Africa.However, Europe has failed to control inflation, which has been skyrocketing since 2022, Yushkov recalled, commenting on the possible introduction of a full embargo on Russian LNG in the upcoming 14th round of sanctions.The analyst noted that European political elites were more independent during the Cold War and were able to defend their right to buy Russian energy. These massive imports helped build the "European prosperity" whose future is now in doubt.According to Yushkov, the "quality of political leadership" is currently deteriorating against the backdrop of the "decline of nationalist political elites" sidelined by the EU.The expert also pointed out that Europe no longer has much to offer the world in terms of new ideas and cheap labor.
https://en.sputniknews.africa/20240424/us-intends-to-continue-sanctioning-russian-energy-sector-to-dominate-market-russias-us-envoy-says-1066208419.html
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russia, europe, moscow, european union (eu), liquefied natural gas (lng), international, sanctions, us sanctions, anti-russian sanctions, gas, gas pipeline, export, import, economy
Ban on Russian LNG Will Hit Europeans Hard in Wallet Without Shaking Russia, Expert Says
10:41 26.04.2024 (Updated: 11:31 26.04.2024) Muhammad Nooh Osman
Writer/Editor
The European Union has been facing inflation and a massive energy crisis as part of the post-pandemic global economic recession. The situation has further exacerbated against the backdrop of the Ukraine conflict and comprehensive Western sanctions against Russia, leading to supply chain disruptions and energy price spikes worldwide.
The possible ban on Russian liquefied natural gas (LNG) exports to the European Union will hit Europeans hard in their wallets without
shaking Russia, Igor Yushkov, an expert from the Financial University under the Government of the Russian Federation, told Sputnik Africa.
"This will lead to higher prices for gas, electricity, heating in winter, and in general it will increase inflation," the expert said.
However, Europe has failed to control inflation, which has been skyrocketing since 2022, Yushkov recalled, commenting on the possible introduction of a full embargo on Russian LNG in the upcoming 14th round of sanctions.
"At the level of consumers, businesses and ordinary people, there is a realization that anti-Russian sanctions cost too much and don't pay off, don't work. Russia does not change the goals and direction of its foreign policy, while they pay more and more," the academic explained.
The analyst noted that European political elites were more independent during the Cold War and were able to defend their right to buy Russian energy. These massive imports helped build the "European prosperity" whose future is now
in doubt.
According to Yushkov, the "quality of political leadership" is currently deteriorating against the backdrop of the "decline of nationalist political elites" sidelined by the EU.
The expert also pointed out that Europe no longer has much to offer the world in terms of new ideas and cheap labor.
