Europe is committing an ‘Energy Suicide’ by imposing sanctions against

Moscow: Igor Sechin, chief of the Russian fuel company Rosneft warned that the European countries are committing an ‘Energy Suicide’ dancing to the tunes of the United States. The European countries are shooting themselves in the foot by stopping the import of fuels and fuel gas from Russia. Sechin informed that while the European countries are turning their backs to Russian fuels, a British company is still an equity holder in Rosneft.

Moreover, a leading Russian oil company, GAZPROM, has started reducing the fuel gas supply to Germany in the last few days. Over the last five days, Russia has reduced the gas supply to Germany through the Nord Stream pipeline by a whopping 60%. Earlier, Russia stopped fuel supplies to countries like Denmark, Bulgaria and Finland. Whereas, two days ago, Russia claimed that gas supplies to fuel companies in Germany, France, Italy and Austria were reduced. There are indications that Russia will soon stop gas supplies to the European countries.

Furthermore, Russia has forwarded technical snags as the reason for this. But Germany has accused that the reason delivered by Russia is not acceptable and there are political motives behind the Russian actions. It is being claimed that Russia has taken this action to teach a lesson to the European countries who have supported the United States against Russia and have been arming Ukraine in the conflict. European analysts are concerned that the effects of the Russian action will have to suffer in the winter season. Against this background, Igor Sechin, chief of Rosneft, issued another warning to the European countries while speaking at the St. Petersburg International Economic Forum.

Sechin warned that the European countries that imposed sanctions against Russia listening to the United States would face the backlash. But the leading European countries are firm on their stand that they will not purchase fuels from Russia. The effects of the decision are already becoming apparent in the European fuel markets. Fuels rates have skyrocketed in Europe and it is claimed that this will significantly impact the European countries in the coming months.