Russia has announced that it will once again cut down gas supplies in Europe. Rising energy prices and the prospect of famine endured by millions of people in developing countries demonstrate how big the crisis has been. Earlier this weekend, Russians launched an airstrike against the Ukrainian port of Odessa.
On Tuesday, the Ukrainian military announced that Russian cruise missiles had struck targets in the south. Ukrainian troops also had struck back. Earlier this month, President Vladimir Putin cautioned the West that restrictions ran the risk of sparking significant increases in global energy prices. The European Commission has encouraged nations to reduce their gas consumption by 15% over the upcoming seven months after Russia threatened to reduce or stop all shipments. The voluntary aim might change to the required status under the ideas in a crisis.
Nord Stream 1 pipeline maintenance will cut gas supply in half
Russian energy giant Gazprom said stopping another turbine at the Nord Stream 1 pipeline would cut daily gas production to 20%. It will cut the current level of gas supply in half. Earlier this month, the Nord Stream 1 pipeline was entirely closed down for a 10-day repair break. The supply had been operating significantly under capacity for weeks. 40% of the gas consumed in the EU last year came from Russia. The pipeline has a capacity of 55 billion cubic meters a year. It is the single biggest Russian gas link to Europe.
Since Moscow invaded Ukraine on February 24, Russia’s Black Sea fleet has prevented grain exports from that country. Moscow accuses Ukraine of exploiting the entrances to its ports and Western sanctions for decelerating its exports of food and fertilizer. Nearly a third of the world’s wheat exports came from Russia and Ukraine before the conflict and the ensuing sanctions.
On Friday, representatives from Russia, Turkey, Ukraine, and the United Nations reached an agreement. As per the agreement no attacks would be made on commercial ships traveling across the Black Sea to the Bosphorus Strait in Turkey and then to markets. According to the agreement reached on Friday, captains will direct ships through the naval minefields on safe routes.