Posted on 07/23/2014 11:57:11 AM PDT by Tailgunner Joe
The most important thing for European ministers to remember during this crisis is how little they actually have to fear from Mr Putin – for Russia needs the West far more than the West needs Russia. Indeed, there is every possibility that denying Moscow access to the global capital markets, which is the strategy at the heart of Washington’s latest sanctions initiative, could ultimately result in Mr Putin’s downfall. For a start, thanks to the mismanagement and corruption that have dogged Russia’s economy since Mr Putin came to power, the country has nothing much else to offer other than its energy exports. The over-valued Russian currency has resulted in the erosion of Russia’s engineering and manufacturing sectors to the extent that without revenue earned from its oil gas and exports, it would be in severe financial difficulties.
Nor does Mr Putin’s threat to reduce Europe to darkness stand much scrutiny. Europe as a whole is not as dependent on Russia for its gas supplies as many politicians would like us to believe. Russian gas makes up only 30 per cent of Europe’s total energy needs. There have been abundant quantities of liquefied natural gas (LNG) acquired from countries such as Qatar and Algeria and stored at purpose-built terminals around Europe. According to industry experts, these could, in an emergency, be used to quickly fill any gaps in energy supply. A new network of two-way gas pipelines set up in the wake of the Georgia crisis – the latest services Poland and the Baltic states – could quickly be adjusted to supply adequate quantities of LNG to any country threatened with Russian cuts, although it might prove more costly than the present arrangements.
(Excerpt) Read more at telegraph.co.uk ...
Nope. Russia has friends “elsewhere”.
This guy actually believes that?
You’re talking about the Chi-coms? Don’t make me laugh! “Friends?”
The Chinamen have Vlad over the barrel. They were able to demand a much lower price for Putin’s gas than what he gets from Europe. He knows he needs them much more than they need him.
It’s the truth. Putin can’t cut off their gas without hurting himself as well, real bad.
Venezuela, Ecuador, Nicaragua, and Cuba can only take you so far . . . .
I suspect as the Chinese become the prime customer of middle east oil, the situation there will change also. I’m sure the Chinese will dictate much more favorable terms for themselves.
You speak of the Chicaps...... they have financial moxie and clout
Cheerful talk of the crickets at sweltering July heat.
They do not have to fear from the ant. They'll fear winter cold. And their own empty pockets.
Putin should fear the Russian people with empty pockets whom have had their pensions raided to pay for the Russia’s criminal invasion of Crimea.
Yeah but as part of deal the Chinese agreed to let Putin have Europe and China gets the Far East.
Defying the US? Putin is not a child, he is very cleaver....mostly by using obama’s idiocy against him.
Yeah, the Chinese are going to end up with “the far East,” all of Siberia!
Russia has been doing pretty good at best and surviving at worst while defying the west for the last couple centuries, I don’t expect that to change under Putin or anybody else.....
Russia is going to be smashed to pieces like the Soviet Union was.
Well, that should be a good thing, right? So, let him defy the West Obama will finish him off..
By defying Obama, conservatives could be leading themselves to ruin.
Could be, but we aren’t going without taking people with us.
Yeah, right. Who’s gonna stop him? Michelle?
You must be a Putinista.
just kidding.
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