RBC analysts with the take on Putin's war on Europe. Energy analysts at the bank make the point that:
“Weaponizing gas flows is a far less costly choice for the Kremlin"
Pointing out that:
with gas exports only generating around 15% of Russian hydrocarbon revenue .. Putin will likely seek to keep Europe in a state of perpetual panic by deploying a rolling cut off strategy
More:
- Putin doesn't want Europe to build up its gas reserves ahead of winter
- While gas flows through the pipeline have resumed at 40% of capacity, the Kremlin could later cut it to 20%
- Thursday's Nord Stream restart a temporary reprieve
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A good take, but this is not a 'breaking' one - Putin's strategy here has been canvassed elsewhere.
