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European companies are doing very well without trade with Russia

2024-02-23T17:03:34.371Z

Highlights: Russia supplied the EU with nearly 40% of its natural gas and was preparing to become an even more significant supplier with the commissioning of the new Nord Stream II gas pipeline. The slowdown in Russian gas deliveries pushed Europe towards a violent and unprecedented inflationary crisis in forty years. The economies of the euro zone have both consumed less energy and have been able, in all directions, to diversify their sources of supply. New contracts have been concluded with suppliers such as Algeria, Azerbaijan, Norway and Qatar. Result, at the end of 2022, the volumes transported by gas pipeline…


DECRYPTION - Trade with countries under free trade agreements made it possible to compensate.


The war in Ukraine, which is entering its third year, has created shock waves in Europe.

On a military but also commercial level.

The Russian invasion has indeed disrupted trade between Moscow and the Old Continent.

It is first of all decoupling at the energy level which has had the greatest impact on the European economy.

Russia supplied the EU with nearly 40% of its natural gas and was preparing to become an even more significant supplier with the commissioning of the new Nord Stream II gas pipeline.

The slowdown in Russian gas deliveries pushed Europe towards a violent and unprecedented inflationary crisis in forty years to which it had to adapt.

With success: the economies of the euro zone have both consumed less energy and have been able, in all directions, to diversify their sources of supply.

New contracts have been concluded with suppliers such as Algeria, Azerbaijan, Norway and Qatar.

Result, at the end of 2022, the volumes transported by gas pipeline…

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Source: lefigaro

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