Russia predicts market collapse if Europe does not use Russia’s oil and gas

Ukrainian pressure has urged Europe to ban Russia’s imports of gas and oil, but Russia’s deputy prime minister for energy, Alexander Novak, wanted to warn. In front of the House of Representatives, Duma, he said that when such an embargo on hydrocarbons saw the light of day, markets would collapse and push prices into unknown territory.

Stopping NordStream2, which is “absurd”

“Without Russia’s hydrocarbons, it is absolutely clear that sanctions will disrupt gas and oil markets. Rising energy resource prices can be unpredictable,” he said. Added blocking of node stream 2 in. The pipeline connecting Russia and Germany, bypassing Ukraine, was “ridiculous.”

“(…) In the EU, where prices are rising and energy resources are scarce, pressure from the United States has hurt European consumers and refused to outsource the already built NordStream 2 gas pipeline. “He considered it” ridiculous “to block this 1,230-kilometer pipe under the Baltic Sea and declared it by a Russian agency.

“For example, the price of petroleum products in Germany has risen by up to 40%. The price of gas can reach up to $ 4,000 per 1000 cubic meters, and that’s not the end,” the deputy prime minister warned. Minister.

He added that the amount of gas in European storage facilities is now 26% compared to more than 30% last year.

Germany fears running out of gas next winter

“I’m not ready” (Ferrand)

It’s certainly complicated for European countries. Parliamentary President Richard Ferrand also estimated on Wednesday that Russia’s gas and oil embargo was “impossible.” This is a few hours before the video intervention in the parliament of the head of state. Volodymyr Zelensky of Ukraine.

“I’m not ready because it’s impossible,” said Antenna of France Inter, chairman of Emmanuel Macron’s campaign committee. “Sanctions help influence Russia’s political power. French or other Europeans “.

“Whenever we can strengthen our position to influence Russia’s power, we must do it, but it is not a problem of sudden depletion of Europe, France, industry and everything that makes us alive,” Richard Ferrand said. Ferrand insisted.

“If we decide tomorrow or the day after tomorrow, there is no alternative. We are gradually reducing supply until we weaken Russia. Yes, but to be honest,” we will decide tomorrow morning. ” Not. That “,” he made a conclusion.

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“It’s clear that we must withdraw from Russia’s gas and oil imports and as soon as possible,” said LREM’s Vice President Aurore Bergé’s president in Amfo, France, “it’s only a matter of time.” Because tomorrow we can’t blame our neighbors for their very strong dependent energy situation. “

“It is a matter of strengthening sanctions over the medium to long term, and the war is likely to continue, so sanctions must be gradually promoted,” he said.

Washington has decided to ban Russia’s hydrocarbon imports, and the United Kingdom has announced that it will stop Russia’s energy imports by the end of 2022.

Europe has so far rejected Russia’s import ban, which provides 40% of its natural gas requirements and 30% of its oil needs.

However, after a two-day meeting with European leaders in Versailles on March 11, Emmanuel Macron did not deny that the European Union could later attack gas and oil imports. “Nothing is banned, no taboo,” he said.

“There is no future for TotalEnergies to grow in Russia” (CEO)

The day after the announcement of the suspension of Russian oil and petroleum product purchases from TotalEnergies at RTL this Wednesday, Group CEO Patrick Pouyanné could have done without Russian gas without any part of the European economy. I remembered that I didn’t. shut down”.

“I know how to exchange this” Russian “oil for diesel, but” Gas, I don’t know how to do it. If I decide to stop importing Russian gas, I’ll do it I don’t know how to replace it, I don’t have one available. I have 25 year contracts but I don’t know how to get out of these contracts, “said Patrick Pouyanné. increase.

Regarding the announcement of the withdrawal of certain Anglo-Saxon groups from Russia, “My competitors are Russian because we have long-term contracts and we do not know how to stop them unless the government decides. Sanctions that allow the use of unavoidable forces that continue to drink gas. Stopping Russian gas will immediately pay Russians billions of dollars, “the CEO asserted.

“Without Russia’s gas, we will stop part of the European economy,” he recalls, and at this stage the European government has not decided to sanction Russia’s gas. There is a problem. In January 2023, the use of gas should be distributed, perhaps for European industrialists, not for individuals. “

Thunderbolt: TotalEnergies Stops Purchasing Russian Petroleum and Petroleum Products

Would you like to quit Russia altogether? “I’m not going to do that. We invested in factories for about $ 13 billion. It’s not a matter of money. These factories will continue to operate regardless of whether I leave. These The factory is giving Russians $ 13 billion at zero, because no one can buy them. You give me Russian assets and enrich the sanctioned Russians. Do you want?

“Russia is 5% of our cash flow, 10% of our results and the company is not at all at risk. Since Mr Putin decided to invade Ukraine, TotalEnergies in Russia There is no future for growth. All the future we have built in Russia. Do you think you don’t care what has passed after the war? “Patrick Putinne asserted.

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