Which Nations Run The Danger Of Losing Energy From Russia?

 

Russia decided to take its trade partner to task, as it cut off gas supply to Bulgaria and Poland. Apparently, both countries had decided not to pay Russia for its supply via Turkey in rubles. Russia has refused to accept payment in any other currency.

Tensions have been brewing since countries went up and arms against Russia over the war in Ukraine and incessant human rights violations. In response to the threat, the Polish Climate Minister, Anna Moskwa has said, “Poland has the necessary gas reserves and sources of supply that protect our security — we have been effectively independent of Russia for years,” tweeted Anna Moskwa. “There will be no shortage of gas in Polish homes,” she added.

Bulgaria has never faltered in its payments. But Russia has used this as a sheer ‘blackmailing’ tactic to get its way through those nations that have been ‘unfriendly’ with Russia.

Now, both countries feel they can handle the shortfall; but this can go on only for a short while.

There is Finland and Sweden who have plans to join the NATO. There are reasons for them to do so. For one, the NATO security is a lot in the phase of threat from Russia. Finland relies 94percent on Russia for its energy supply, unlike Sweden that can go on its own, if it wishes to.

The other countries that are heavily relying on Russia for energy include Bosnia Herzegovina, North Macedonia, Moldova and Latvia. While these are tiny nations, their own strong democratic self could create ripples with Russia.

In all, around 40% of Europe's gas demand is met by Russia, with Norway and Algeria also being major contributors.

Conclusion: This is a time when many nations will find self-reliance, new alliances and also innovation in use of renewable sources of energy.