Geo Politics

For decades, Europe depended on Russia to supply it with low-cost oil and natural gas to keep its industries buzzing. But now, Europe’s industrial energy costs are soaring in the wake of the Ukrainian crisis. Natural-gas prices are now three times higher than they were a year ago, and factories are scrambling to find alternatives to Russian energy, unsuccessfully so. No replacement for Russian energy. The European Union claims to be punishing Russia, in line with which it has stopped consumption of Russian fuels. That’s what the world is being told. But that’s not the case. Europe continues to import a prime Russian fuel. Surprisingly, nobody seems to be talking about this continuing trade between Europe and Russia, and the EU is maintaining stoic silence on the issue. We’re talking about Russian nuclear energy.

Credit | WION