WSJ: energy crisis will strengthen Russia’s position on the world stage

A serious energy crisis in Europe has allowed Russia to secure additional leverage, while the United States risks losing its strategic power, analysts at The Wall Street Journal say.

WSJ: energy crisis will strengthen Russia's position on the world stage

“In Europe, energy prices have increased fivefold over the past year, and [Russian President] Vladimir Putin is turning this situation in favor of Russia […] Energy is the source of America’s strategic power, which it risks exchanging for climate dreams,” writes WSJ.

According to analysts of the American newspaper, the refusal of the energy system of Europe from fossil fuels has significantly increased “dependence on natural gas, the main supplier of which is Russia.” The WSJ added that the current situation “creates a lever of strategic pressure for the Russian Gazprom, which is in no hurry to speed up production, despite requests from European politicians.”

“Energy supply is a key factor in the global balance of power. Russia and China know this, and the Biden administration’s obsession with unrealistic climate goals to the detriment of energy security threatens to undermine the US economy and global interests”, the Wall Street Journal experts summed up.

Let’s remind that last week the cost of one thousand cubic meters of gas in European markets exceeded $ 1900. The head of the Gazprom board of directors noted that the strong gas shortage in Europe and the lag in pumping gas into underground storages led to a record rise in prices.

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