Economy

Trump Was Right – Putin Reduces Natural Gas Flow To Germany By Another 40%

Once again a former President Donald J. Trump comment and/or prediction is coming to pass.

Trump during his address to the UN General Assembly warned Germany about their country’s reliance on Russian energy.

In response, the German delegation laughed at the comments of the 45th President of The United States.

Well, Germany is eating crow, again.

On Wednesday, Gazprom, the Russian state-owned multinational energy corporation in Saint Petersburg, announced that it will be further reducing its natural gas flows through a key European pipeline.

The state-owned energy giant said on Twitter that deliveries through the Nord Stream 1 pipeline to Germany would be cut again Thursday, bringing the overall reduction through the undersea pipeline to 60%.

The new cut came a day after Gazprom said it would reduce flows by 40% after Canadian sanctions over the war prevented German partner Siemens Energy from delivering overhauled equipment.

Germany’s Vice-Chancellor Robert Habeck said Wednesday that Gazprom’s initial move appeared to be political rather than a result of technical problems, “Clearly show the Russian side’s explanation is simply an excuse.”

“Obviously, the strategy is to unsettle people and push up prices,” Habeck said.

Russia recently halted gas supplies to Bulgaria, Poland, Finland, the Netherlands, and Denmark.

Simone Tagliapietra, the author of ‘Global energy fundamentals’, said the Kremlin was pursuing several goals in order to undermine European unity and backing sanctions against Russia.

One was short-term market manipulation to drive up gas prices, creating more stress on Europe and more revenue for Russia. Another goal, after the cutoffs to smaller countries, “is to remind the big countries that the gas is not to be taken for granted.”

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“Russia never acts on a general level. It is always targeting individual countries, one by one, always to play this divide and rule strategy from the very beginning,” Tagliapietra. “This is a strategic game, this is not random.”

He said officials are in contact with Canada to check what is possible under Ottawa’s sanctions. But he added that, as far as German officials know, the first “relevant” maintenance session isn’t due until the fall, and because there are several such installations, that wouldn’t explain a 40% reduction.

“So I also have the impression that what happened yesterday is a political decision and not a decision that is technically justifiable,” Habeck said. “What effect it has on the European and German gas market, we will have to wait and see. As a rule, suppliers have always succeeded in getting hold of gas from other sources.”

As someone who has vacationed throughout Germany, their government’s poor management of energy coming from Putin’s Russia is very surprising.

Putting their collective eggs in this one energy basket empowers Putin, and prevents Germany and other nations from being immune to manipulation.

In the end, Trump was right, Putin is getting wealthier, and Germany is not laughing any longer.

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