Washington-Sana
The American Wall Street Journal saw that the suspension of the Russian gas pipeline “North Stream 1” presents the worst scenario ever for European countries.
The newspaper pointed out that after the announcement of stopping the pumping of Russian gas to Europe due to a malfunction in the only turbine operating in the “North Stream 1” gas pipeline, natural gas and electricity prices jumped first by a third and then returned to rise by more than 10 percent, which led to a record drop in The value of the euro in 20 years and in the future could lead to more price hikes to historically record levels and then to accelerated inflation and impoverishment of consumers and pressure on energy-intensive industries that are witnessing a wave of factory closures.
The newspaper pointed out that the main goal is to curb the unbridled movements in the electricity markets that are forcing European companies to close, pointing out that the options distributed by the Czech Republic, which currently holds the rotating presidency of the European Union, include measures to temporarily reduce the prices of gas imports, including those used to generate electricity As well as limiting the revenues that renewable, nuclear and hydropower companies receive from low operating costs, and income that exceeds a certain ceiling will be withdrawn and redistributed among consumers.
At the same time, Brussels must realize that previously announced plans to put a "price cap" on Russian hydrocarbons are capable of severing all energy ties with Russia, noting that one method that EU executives appear to be seriously considering is setting a price The rest of the Russian gas imports, which will stop the supply of Russian gas to the region.
And the finance ministers of the Group of Seven countries confirmed earlier this month that there is a plan to impose a “maximum oil price” on Russian oil, while Deputy Prime Minister Alexander Novak made it clear that the idea of reducing oil prices in Russia is completely absurd and that Russia will not provide the countries supporting this initiative. He added that imposing restrictions on Russian oil prices would destroy the market, and other producers did not respond positively to such an initiative.
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