Free Republic

A potential cutting-off of Russian gas would lead to recession and “chaotic conditions”, various German officials are now warning. Former U.S. President Donald Trump’s warning that Germany’s addiction to Russian gas would have extremely negative long-term consequences appears to have been proven prophetic, with officials in the country now warning of “chaotic conditions” and severe economic recession should they lose access to Moscow’s supply. The warnings come as Germany starts to fret that when the Kremlin turns off gas on July 11th to do annual maintenance on the gas line between the two countries, Russian authorities will use technical problems...

The U.S. Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and gas despite a raft of sanctions against Russia and its largest lenders. The new guidance comes as traders and banks worry about running afoul of U.S. trade laws as world leaders rally against Russian President Vladimir Putin’s unprovoked invasion of Ukraine. But Treasury underscored in a post that the U.S. sanctions against Russia’s biggest banks — including VTB Bank — do not apply to energy transactions until June 24. The department also reassured investors that companies that transport...

Biden and Blinken may associate acquiescence to Berlin with sophisticated diplomacy and may assume that Germany stands for the same values as the United States, but this would be a mistake. Simply put, Germany is neither a good ally nor does its leadership share the same liberal, democratic worldview as the United States. When Russia’s Gazprom and European partners announced plans to expand pipelines carrying Russian gas to Europe, eight European Union members and the Obama administration raised objections. Not only would Nord Stream 2 make Europe more dependent on Russian gas but, by rendering the existing pipeline across Ukraine...

And soon ev’ry German Wore a fuzzy brown cap With cute little Mishas On each pocket flap “The U.S.S.R. has announced plans to construct a natural gas pipeline from Siberia to West Germany. The pipeline is expected to be operational by 1984.” (November 16, 1981). [William Kevin Stoos, Manchester Union Leader, 1981] Wolfgang drove up to The Sign of the Star And a smiling attendant Leaned into his car. (He wore a Red Star On his fuzzy brown cap And a Misha-Bear patch Over each pocket flap.)

There are hopes that gas flows through Ukraine may soon be restored after the first EU monitors arrived to start checking pipelines from Russia.