Isn’t this sort of a big deal?
Huge, if they don’t find a way out of this. I assume, but we will have to wait and see, that they are going to try to remove whatever sanctions are preventing Siemens from making the repairs.
But, and this is a big but....it could be that Russia will use this as a way to avoid having to supply any more gas to Europe.
Russia has to this point stuck to performing based on contracts. But, this could provide a legal way out of that for them. And they have had it with Europe and would welcome the opportunity to exit the contracts (except for friendly countries like Hungary, etc.)
For Europe it is.
We’re next on the chopping block.
Manufacturing will be crippled here by energy prices and all that cool stuff at the store you like to buy will no longer be found.
Fun days ahead.