Who's winning the energy battle between Russia and the West? | Counting the Cost

An all-out energy war between Russia and the West threatens to deepen Europe's energy crisis, putting pressure on governments to make interventions in the energy market to rein in soaring prices.

But it also puts the Kremlin's revenues at risk and is meant to stem the flow of funds into its war coffers.

Moscow's earnings from energy exports are expected to rise by 38 percent this year. Western capitals say they want to cut off that financial lifeline. The G7 have agreed to cap the price of Russian oil, and the European Union plans a cap on Russian gas prices, too.

In response, the Russian president said he will "freeze" European countries if the price caps are imposed.


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[g.s.]

EU can put a price cap, but the producer can stop supply products to EU.

[desmondchia]

They keep thinking how their actions will effect Russia, without mentioning how their actions will actually harm themselves as well.

[ketiboablay]

Should there be a price cap on European and American industrial goods too? Why not, for fairness?

[ketiboablay]

The professor is block-headed or dishonest!
He dodged the Russian accusation that European countries are diverting Russian and Ukraine grain to feed themselves and their livestock.

[phaZed]

"The Weaponization of Energy, that has been done by Russia" - Simone Tagliapietra. No, sir. The weaponization happened with OPEC a long time ago. The weaponization happened with Sanctions against energy from Russia - by the Western States.

[zeanu]

"Who's winning the energy battle between Russia and the West?"
the right question is who has and owns energy, who doesn't
there you have your winner

[udhaya_shankar_V]

As u post now, EU dropped Price Cap on Russian gas due to worse case aftermath. EU might not survive this war with Russia. US is very happy over depletion of precious EU wealth, which was looted over centuries from poor countries.

[kubhlaikhan]

Since when did the G7 have the right to set the price of gas that changes hands between other sovereign states? In a nutshell it demonstrates everything that is wrong with the American and European attitude to the rest of the world. Are they going to send gunboats?

[xxoo-lpvc]

I want to push for a price cap on iPhones. It's ridiculous that they charge $1, 200 when it cost only $600 to produce an iPhone. I'm happy with a price cap of $700.😅

[williambrown]

Russia from 1960 been on sanction and nothing new. The European Union who has never been on sanction are the one that worries

[aeophylus]

Petrol station- $3 a liter of petrol
EU- no, we are price capping you and paying you only $2 a litre
Petrol station - you're not getting it for $2, now please move along as we have China and India waiting behind you!

[odiliujubuonu]

In my humble opinion, the EU and Russia will suffer both in short and long term. Replacing Russian Oil at any cost is more expensive than keeping it. The wisdom of keeping it drove the growth of the German industrialized engine for decades, made Europe competitive and economically secure. By not resolving the post-Soviet era geopolitical challenges that threatened Russian interests in Europe, EU showed lack of tact in protecting its own interests. In yielding to American narrative of having a weak Russia, over European interests, the EU allowed a major war on its territory after so many years. The EU had the wisdom to broker the Minsk agreement but lacked the will to ensure that Ukraine obeyed it. It is safe to say that it is the EU's weakness rather than American pugnacity that brought about this war. If the EU had stopped America through NATO from poking Russia in the face, the cheap oil and gas would have kept Europe running, its future secure and its interests safe.
On the part of Russia, it is currently selling its oil and gas at a discounted rate to the East at the cost of losing its historical neighbours. It's wasting its resources on a useless war ( even though for them it's an existential one), limiting its growth opportunities in the areas of technology and rich western market. A supplier that fights with its buyers suffers no matter who else buys from them. Making new friends and neighbours will cost Russia much more than keeping the old and time-tested ones. The only winner in this conflict is America. Biden has through this proxy war returned America to a prominent influential level in Europe, and a buzz name in International Police-Keeping, something it lost with Trump, he has also increased the sales of its Oil, Gas and of course its heavy arms and ammunition. Most importantly, it has without force or diplomacy made Europe on its own to increase its commitment to increase its military expenditure under NATO. This is something they haven't agreed to do for years.
With the war, Europe will spend more on oil and gas, lose its competitive advantage, spend more on defence and above all, now begin to worry about a new angry and unusually bellicose neighbour, who no longer has anything to lose fighting you.
My advice is for Europe to rethink its strategic role in the emerging world. If it continues with its current position, it will be consigned to the sad edge of history.

[earlfithian]

Seriously Al Jazeera, these are the so-called "experts" that you bring on. The head of one of the largest energy companies in the Europe said yesterday that it may cost Europe over one and a half Trillion dollars to bail out energy companies. Please, get your act together and get experts on who know what they are talking about.

[stjepkomamic]

Winter is coming and only in January will we see how much Germany and the whole EU is in trouble.

[ketiboablay]

Which global interest is EU pretentiously protect?

[annabellelee]

Who is winning the energy battle? Who is going to be warm this winter? Who is going to be well fed this winter? The country with plenty of food and energy supplies is the winner. That is obviously Russia. We can take it further, whose currency is strong? That is obviously Russia.

[af]

Now Western people searching foods, in the name of poor people 🤔😂😂😂🤣🤣🤣

[phantrab]

Oil, gas are essential and compulsory for any country. Putin has it

[sadanandsable]

Russia is India's friend. Nato countries not provoke Russia by selling Nato membership to Russian border countries. This is needed for global peace?

[normthom]

I will give you a clue. Since the sanction were imposed Russia has recorded record earnings, the best performing currency of 2022, increased influence with key partners like China, India, and Turkey. The EU/UK are facing a cold miserable winter, The Euro and the Pound at their lowest point ever, the cost of living crisis in the EU many times higher than in Russia.