Opinion: November 19, 2021. Why is Europe More Dependent on Russian Gas This Winter?

Europe has depended on Russian natural gas for many years. This is one of the geopolitical issues of these times. Russia has leverage because of thus and has used it in certain occasions.

The previous winter happened to be harsh one and it depleted the European reserves. In addition, the summer was warmer than usual and energy had to be used for air conditioning. Russia needs also to replenish its own storage capacity before being able to export it. Finally, according to Gazprom, Europeans have not secured good prices with long term contracts.

For more information, take a look at this article.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.