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“ The European Union and Russia are at risk of triggering a de facto embargo on Russian gas after the bloc’s lawyers drafted a preliminary finding that the mechanism President Vladimir Putin is demanding for payment in rubles would violate the bloc’s sanctions.…
…. If Russia follows through on its threat to cut off gas supplies to buyers that don’t comply, it poses a serious threat for the EU, which gets 40% of its gas from Russia. The bloc is scrambling to find alternative energy sources as it comes to terms with the outsize leverage Moscow has over its security, but the transition will take time. The EU is working on its sixth sanctions package, but moves to target Russian energy have been fraught given the bloc’s dependence.”
Economist Michael Hudson has been saying the true target of provoking this war was Europe and Germany in particular. While I have some reservations about that, it looks like Europe will be hitting a recession of unknown depth as sanctions continue.
As I look back at the last twenty years, the neocons have certainly left a trail of destruction in their wake.
