Europe goes straight in terms of sanctions to Russia, even if, for fear of repercussions on the supply of energy and raw materials, there doesn’t seem to be a common line.
So the decision was made last week to stop supplying Russian coal, albeit, to be fair, not until August. In short, the EU is walking on eggshells and must also face the problem of the autonomous and different decisions of the member states, each trying to save what can be saved.
After the shaky no al Money, Brussels is trying to get an embargo on Russian oil, but Germany has no intention of following these guidelines slavishly, presumably for fear of very serious consequences: for now Berlin seems ready to soften the scope of the ban by doing so relate only to crude oil derivatives and choose to delay the entry into force of this embargo until at least the second half of the year. France itself, in its own way, chooses to slow down, even if any decision had been postponed to the postvote stages. Presumably in order not to further strengthen the antiEuropean positions of Marine Le Pen, who focused her election campaign on the fight against expensive housing.
In addition to oil, the EU also has the methane, the last fossil source currently exempt from restrictions. In this case, too, Germany, which is particularly dependent on Russian gas, will have to exercise extreme caution. EU member states are fearful of the possibility of an abrupt and immediate halt to methane imports, also due to the fact that Brussels has already warned everyone about the alleged illegality of paying for Russian gas imports in rubles, as requested by the President of the Russian Federation Vladimir Putin. Complying with such demands, which more than someone like Hungary would already do for the benefit of its people, would mean violating the same sanctions imposed by the EU and giving the Central Bank of Russia (one of the main goals of the restrictions) discretionary powers on both the exchange rate and the conversion times. The Russian presidential decree, passed at the end of March, will take effect from May and will oblige enemy countries (i.e. those who have signed sanctions against the Russians) to pay for gas through the K account at Gazprombank, which will convert euros and dollars into it ruble.
The dilemma and the fear
In short, Brussels has warned the Member States, but the hot potato is now in their hands. How to behave Respect the dictates of the EU and suddenly find yourself without raw material and energy supplies, with serious repercussions on the manufacturing sector and a more than likely economic recession, or choose to deviate from the policies to ensure your country’s survival to secure, even if it costs the failure of embargo commitments that have been entered into? According to information in Brussels, at least 150 supply contracts are at risk. We’re talking about 20 billion cubic meters contracts In Europe, a total of 125 billion cubic meters is at risk: the maturities in the coming months will affect Italy, Poland, the Netherlands, Germany, Bulgaria and Slovenia. As for our country, Edison has announced its intention not to renew the contract for the supply of over a billion cubic meters, which is scheduled to end in October. Amsterdam has already asked its companies to terminate these contracts in exchange for promises of economic aid (including fines for the disruption), the extent of which is yet to be assessed.