European Union Folds to Putin, Authorizes Imports of Russian Natural Gas
The European Union has folded to Russian President Vladimir Putin and is now authorizing imports of Russian national gas, which has helped to alleviate a price spike.
The European Commission is set to release a guidance telling European nations how to buy gas from Russia as a work-around of sanctions imposed against Russia. This satisfies the demands issued by Putin, who has used his economic leverage to undermine Western attacks against Russia and her people.
European countries are expected to set up accounts in Gazprombank, a large Russian-based bank, in order to do business with the Russians and pay for their desperately-needed energy. The EU is considering setting a cap on gas prices if Russia restricts energy shipments, according to a draft of the proposal obtained by Bloomberg News.
Big League Politics has reported on how the sanctions regime against Russia is backfiring as the globalist empire proves to be a paper tiger:
“An analyst with the German Science and Politics Foundation is projecting that Russia will see the highest gas profits in history for 2022 despite sanctions from the U.S. and Western powers.
“Almost half of the Russian budget is based on transactions with oil and gas. The state earns enormously from production taxes and export duties,” said Janis Kluge, a researcher who studies primarily Eurasia-based economics.
“It receives the income in rubles, and the amount is determined by two factors: firstly, by energy prices on the world market and, secondly, by the exchange rate of the ruble,” Kluge added.
Kluge believes that the sanctions are backfiring and actually causing Russia to make additional profits considering the West cannot afford to deny their energy exports.
“The gas price on the spot markets has quintupled within the past year. That means Gazprom will have record revenues,” he said.
“Russia planned the national budget with a dollar-ruble exchange rate of 72, but now the ruble is around 85, much weaker, but with a view to energy exports this is an advantage. If we multiply the oil price by the ruble exchange rate, it shows that Moscow expected revenues of around 4,500 rubles per barrel of oil, but is getting much more, around 7,000 rubles,” Kluge added.
The analyst believes that the effect will be to lessen Russian inflation, and the sanctions will not cause a major impact on the Russian economy as a result.”
Despite the media propaganda machine constantly portraying a false reality, it is clear Russia is not losing this war effort. Putin is making the globalists look like fools while demonstrating that his country’s sovereignty is inviolable.