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Gas from Russia:
Russia is currently pumping 40 billion cubic meters per year through Ukraine alone - and the Europeans are currently paying top prices every day
Photo: Dmitry Lovetsky / dpa
How long will European countries continue to buy gas from Russia and thus support Russia's economy?
When is it time to turn off the tap?
The debate about a possible stop to oil and gas imports from Russia alone was enough to drive up the gas price by double digits in the past few days.
This automatically increases the amount that gas customers in Europe transfer to Russian gas companies every day: According to calculations by the European think tank Bruegel, it was already 660 million euros at the beginning of March - in a single day (see chart).
As long as gas flows through the pipelines to Europe, Russia will benefit from the extreme price developments in the energy sector.
Tighten sanctions against Russia, but at the same time pay Russia: This dilemma will persist until EU countries have found alternatives to Russian gas or are willing to limit themselves so much that they can do without Russian gas.
For consumers, this would only mean setting the heating thermostat 2-3 degrees colder next winter.
For European industry, however, the impact would be devastating.
Many companies would probably have to stop production temporarily just because of the price shock.
Because the dependency on Russia's gas is high: In the short term, it cannot be completely replaced by liquid gas from the USA or Qatar.
Russian state-owned company Gazprom supplies Europe with 40 billion cubic meters of gas per year
Irrespective of the war, Russian gas deliveries through Ukraine alone continue at a high level, according to the energy company Gazprom.
As contractually agreed, the volume passed through is 109 million cubic meters per 24 hours, Gazprom announced in Moscow on Tuesday.
In total, an annual volume of 40 billion cubic meters has been agreed.
European buyers have significantly increased their orders since the sanctions against Russia came into force, Gazprom spokesman Sergey Kupriyanov said, according to the Interfax agency.
Because of the sanctions in the West and the discussions in the EU to gradually break away from Russian gas and oil, the energy superpower Russia is now threatening to stop deliveries through the Baltic Sea pipeline Nord Stream 1 to Germany - and is driving up prices .
"We have the full right to make a "mirror-fair" decision and to issue an embargo on the passage of gas through the Nord Stream 1 pipeline, which is currently used at a maximum of 100 percent," said Deputy Prime Minister Alexander Nowak.
Habeck does not believe that gas deliveries to Europe will be stopped
Economics Minister Robert Habeck has meanwhile spoken out against a European ban on imports of Russian oil.
"I don't see the scenario for Europe and for Germany," said the Green politician on RTL/ntv with a view to an oil embargo.
During his visit to Washington, the Americans told him they were not in favor of a European oil embargo against Russia.
Because that increases "the danger that the European economy will falter, really suffer a severe recession, and we can no longer withstand the other sanctions".
He also does not believe that Russia will stop gas supplies to Europe.
In addition, the Greens politician decided against extending the service life of the three nuclear power plants still in operation beyond December 31st.
"In this consideration, we have a minimal increase in electricity production for a maximum of high security risks," said Habeck.
"And that's why I've come to the conclusion that this path is the wrong one."
The Federation of German Industries (BDI) is opposed to an import ban on Russian oil and gas as a reaction to the war in Ukraine.
German industry cannot change its energy requirements overnight, said BDI President Siegfried Russwurm.
"That's why we should do everything we can to avoid this escalation," Russwurm warned against stopping imports, even if it was difficult against the background of the war images.
la/reuters