Adolfo Urso, head of the Italian Parliament Intelligence Oversight Committee (Copasir), called for a EU gas embargo against Russia, claiming in a TV interview yesterday that with such a gas embargo, “Russia will collapse.”
This view, shared by many zombie politicians throughout Europe, is based on fantasy, not facts. Russia’s gas exports are only 11% of its total exports. Of that, 73% go to Europe. Therefore, even in the case of a total gas embargo (including countries that already said they won’t play the game), and of zero chances to sell that gas anywhere else, Russia would lose 7% of its revenues from exports–not exactly a “collapse.”
