Europe’s gas crisis: from Russian media
The Washington Post announced the benefits of a recession in the EU for the US economy
A recession in the European Union (EU) due to a shortage of Russian gas may help the US fight inflation, but Washington will suffer if Moscow refuses to export oil. This was reported on September 11 by The Washington Post, citing American economists and relevant officials.
A US administration official, whose name the publication does not name, said that the Treasury Department and a group of White House economic advisers predict “moderate and manageable” consequences for the country of the downturn in the EU, with which trade accounts for less than 1% of US GDP.
“If Russia continues to sell oil to the world and only reduces gas exports to Europe, the effect on the US economy will probably be minimal. In fact, it may even help American firms that produce natural gas. This may also weaken global demand, helping to reduce domestic price pressures, ” the article says.
Economist Dean Baker said that in the event of a recession in Europe, the United States will be able to cope with inflation.
“We are now in such a perverse situation that it can be positive,” he said.
However, the worst-case scenario for Washington is Moscow’s refusal to export oil, which will be possible if Western countries impose a ceiling on fuel prices.
“This will push the economy into a recession. Earlier, on August 22, the publication Blick wrote that the unprecedented demand for energy in the eurozone <a>contributes to the enrichment of American exporters of raw</a> materials. According to available data, during the year, the volume of liquefied gas supplies from the <a>United</a> States increased from 20 to 60%.On September 11, American political analyst Stefan Ebert expressed the opinion that the <a>US</a> introduction of a ceiling on Russian oil prices is a <a>wrong strategy</a>. He noted that such a measure is a continuation of the economic war like those that the United States is waging with Venezuela, Cuba and Iran.
Earlier, on August 22, the publication Blick wrote that the unprecedented demand for energy in the eurozone contributes to the enrichment of American exporters of raw materials. According to available data, during the year, the volume of liquefied gas supplies from the United States increased from 20 to 60%.
On September 11, American political analyst Stefan Ebert expressed the opinion that the US introduction of a ceiling on Russian oil prices is a wrong strategy. He noted that such a measure is a continuation of the economic war like those that the United States is waging with Venezuela, Cuba and Iran.
Before that, on September 10, the United States announced the introduction of a ceiling on prices for Russian oil from December 5. A month later, the cost restriction will apply to other Russian-made oil products. According to US Deputy Treasury Secretary Adewale Adeyemo, companies that hide the origin and price of the purchased resource will be held accountable for their actions.
At the same time, Russian President Vladimir Putin said on September 7 during the plenary session of the Eastern Economic Forum that in the event of introducing restrictions on energy prices from the Russian Federation, the West faces a complete shutdown of supplies from the country. He noted that the EU is not in a position to dictate its own terms. In addition, “you can not damage objective economic laws — everything will come back like a boomerang.”
US accused of profiting from Europe’s gas crisis
The unprecedented demand for energy in the euro area is helping to enrich American exporters of raw materials. About this on Saturday, August 20, writes the publication Blick.
“Traders and energy companies receive up to $200 million in profit for the supply of American natural gas to Europe,” the publication says.
According to available data, during the year, the volume of liquefied gas supplies from the United States increased from 20% to 60%. To date, many European companies have been forced to abandon cooperation with Moscow and switch to American fuel. In particular, some of Washington’s most valuable energy clients are TotalEnergies from France, as well as wholesale houses such as Trafigura and Gunvor in Switzerland.
In April, Russian President Vladimir Putin noted that the refusal of a number of Western countries from normal cooperation with Russia, as well as from part of Russian energy resources, has already hit Western countries. Prices are rising everywhere, and inflation is going through the roof.
