The United States imposed sanctions on the Russian bank Gazprombank and could impact fuel prices and supplies.
As the war in Ukraine continues, the economic agency’Bloomberg‘warned this Saturday that Europe faces a new energy crisis. Among the reasons he mentioned the decrease in gas reserves, the arrival of the cold and the sanctions imposed on November 21 by the United States against the Russian bank Gazprombank, in charge of payment transactions for importers of Russian fuel.
The European energy situation is in a delicate situation. The fuel reserves dwindle rapidly due to the increase in demand due to the cold. Added to this is a price increase which already accumulates 45% inflation during the year.
The latest US sanctions against the Russian bank Gazprombank further complicated the situation and could lead to a crisis for Europe, warns the Bloomberg agency. The risk increases as the end of a Russian liquefied natural gas (LNG) transit deal through Ukraine approaches.
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The Bloomberg economic agency points out two reasons among the most influential in the increase of the prices of fuels. The European winter is colder than previous years and there have been delays in additional LNG supplies from the United States.
What effects will US sanctions have against the Russian bank Gazprombank?
US sanctions against the Russian bank Gazprombank put payments for Russian gas at risk and could lead to a reconfiguration of the entire payments system.
The scope of Russian gas in Europe is very wide. The largest buyers are Türkiye, Hungary, Greece, Slovakia and Serbia, but it also reaches North Macedonia, Bosnia, Moldova and Italy. Added to this are Austria and Bulgaria, who receive it indirectly.
Sanctions on Gazprombank could complicate supplies from these countries, especially for those that are landlocked. These would be the most affected because they would have more difficulties in obtaining imports.
Source: Ambito
