VIDEO | Andonovic: Geostrategic outbursts are causing an energy crisis in Europe

Gas power plant in Ukraine / Photo: EPA / ROMAN PILIPEY

There has been panic around the world over rising fuel prices after the price of a barrel of oil exceeded $ 80, and Russian President Vladimir Putin announced that a jump in the price of black gold to $ 100 a barrel was quite possible.

The increase in the price of oil on the world stock exchanges spills over to the European market. The continent's natural gas prices have risen sharply in recent years due to small reserves, reduced supplies from Russia, expected cooling of weather and infrastructure disruptions. The latter is primarily due to Russia's intentions to divert the pipeline that passed through Ukrainian territory, due to current political developments, through Turkey, the Balkans and Hungary to Europe, thus bypassing several countries, which will have serious financial implications.

Moscow and Vladimir Putin have sought to retaliate against Europe and the United States over years of sanctions against Russia over allegations of Russian meddling in the United States and around the world, but also over policies toward Ukraine, Georgia and the arrest of Russian opposition leader Alexei Navalny. .

All these open questions complicate the relations of the rival world superpowers, which, as always, the price is paid by ordinary citizens. A similar situation with the energy crisis and price shock existed about 15 years ago, but then Moscow, Washington and Brussels managed to reach an agreement and overcome the disagreements.

A particular problem now, of course, is the departure of German Chancellor Angela Merkel. It is believed that Germany and its personal relations with Russian President Putin were the lifeline for overcoming the energy crisis in Europe.

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