According to the IMF representative, there is no single way to influence the situation, and a set of steps is needed, one of which is search for alternative sources of supplysomething that several countries have already started.
Kammer also pointed out that consumers could in turn reduce energy consumption to “stockpile gas beforehand,” mitigating the effect of a potential additional blackout.
Numerous countries condemned the military operation that Russia launched on February 24 to, according to President Vladimir Putin, “demilitarize” and “denazify” Ukraine, and activated various individual and sectoral sanctions that seek to damage its economy as a form of pressure to stop hostilities.
In this framework, the European Union (EU) imposed restrictions that prohibit the purchase, import or transfer of coal and other solid fossil fuels to the community bloc if they originate in, or are exported from, Russia, as of August 2022.
So far no EU limitations apply to oil and gas imports from Russia, but similar calls have already been made by European politicians, while the United States has already imposed an embargo on Russian energy supplies, except for uranium.
Russian Deputy Prime Minister Alexander Novak highlighted that without Russian gas and oil the world would collapse and fuel prices would be unpredictable, picked up the Sputnik news agency.
According to the representative of the Russian Foreign Ministry Dmitri Birichevski, Europe depends heavily on gas and crude oil from Russia, and in the best of cases it could alleviate that need with supplies from other countries or by using renewable energy sources.
Source: Ambito
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