If you doubted the accuracy of Russian President Putin’s characterization of the European energy policy as “suicidal,” just look at how governments are reacting to Gazprom’s recent supply cuts.
The two countries most hit by the cuts are Germany and Italy, importing 42.6 and 29.2 million cubic meters respectively. Gazprom has reduced gas flows through Nord Stream 1 to Germany by 60%, and flows to Italy by 50%. Berlin and Rome’s common narrative is that the cuts are not endangering the national energy supply, because currently, supplies are running higher than demand; of course, lowered supplies now are preventing a refilling of stocks. thus jeopardizing the national supply next winter.
According to Wood Mackenzie, quoted this week by Bloomberg, if supplies through Nord Stream 1 stop completely, the EU is under the threat of being without reserves for the peak demand period of the middle of next winter.
Take note, even the part of the government narrative saying things are OK right now does not hold up. There have been repeated blackouts in Milan in the last few days, from a 25% higher electricity demand due to high temperatures.
Moscow’s use of the gas weapon was to be expected. Despite the EU rhetoric to the contrary, EU nations are co-belligerents against Russia, by delivering weapons to the Ukrainian government. Italian Prime MInister Mario Draghi himself admitted as much in his speech in Kiev on June 16. “We are here to help Ukraine in the war,” Draghi said.
