The IEA singles out Russia for its responsibility in the European energy crisis

IEA Executive Director Faith Birol in a file image Anadolu Agency (Anadolu Agency via Getty Images)

The International Energy Agency (IEA) directly singles out Russia for its role in the energy crisis in Europe. The executive director of the body dependent on the Organization for Economic Cooperation and Development (OECD, a kind of

of rich countries), Fatih Birol, on Wednesday raised the tone against the government of Vladimir Putin, which he accuses of strangle the European natural gas market. "We believe that there are strong elements of tension in the European gas market due to the behavior of Russia," he stressed in an interview with the British newspaper

. The low shipments of Russian gas to Europe "coincide", he stressed, with the escalation of the conflict with Ukraine, between Moscow and Brussels.

Birol believes that the Eurasian country - which has repeatedly denied any responsibility for the energy crisis of its neighbors - is voluntarily reducing its total gas supply capacity to the Old Continent by a third: “We understand that Gazprom is fulfilling its long-term contractual commitments. term, but it has reduced spot sales to Europe even though prices for long-term contracts are well below current spot levels. ” Also, it says, it is restricting the volumes of storage in its gas deposits on community land. "The current shortage of storage in the EU is due in large part to Gazprom," charged the head of the IEA.

Today, Europe's gas reserves are at 50%. They are 15 points less than just a year ago, according to the latest data from Gas Infrastructure Europe. The capacity of the European deposits owned by the Russian semi-state oil company barely represents 10% of the total storage capacity of the EU. However, according to Birol, half of the European deficit is due to the low volume stored by Gazprom. The firm, almost 40% controlled by the Russian State, has storage facilities for this fuel in Germany, Austria, Latvia, Hungary and Slovakia. From there it supplies to other countries of the Union.

Both factors - fewer shipments;

undercapacity deposits - along with increased demand from Asian countries, are artificially raising prices.

In addition, the rise in price of natural gas has dragged down the electricity markets of the Twenty-seven, in which several highs have been broken in recent weeks and has caused an unusual increase in inflation rates.

Oil returns to pre-omicron levels

Brent crude, the benchmark in Europe, set two-month highs this Wednesday, before the appearance of the omicron variable sowed fear in the markets. The publication of a lower-than-expected inventory data in the United States, by far the world's leading consumer of oil, has pushed the barrel above $ 85, one step away from the highs of late October.

Since last December 1, when investors began to discount the impact of the new variant on the economy, the Brent climbed almost 24%.

In mid-December, when the market was already showing signs of a slight recovery after the omicron scare, the technicians of the Organization of the Petroleum Exporting Countries (OPEC) downplayed the impact that this would have on consumption (and, therefore, on the price) of crude.

"Global demand," they said, "remains unchanged."

A month later, time seems to have proved them right: contagions continue to skyrocket, but the vital signs of the oil market remain intact.