Nepal Rastriya Dainik
May 20, 2024 ,
TRENDINGS
Nine thousand victims of human rights violations in 2023 General committee meeting to make Congress strong and united: Deuba Those who pushed the country to violence are in power: Former President Bhandari Indefinite curfew order in Birgunj Permission for mineral extraction to 156 mining companies in Nepal Finance Minister Mahat’s request to focus on meeting the target of revenue collection

USA taking advantage of Europe’s energy crisis

Posted on by नेपाल राष्ट्रिय दैनिक

As the European Union faces an energy crisis due to the ongoing conflict in Ukraine, the US must not be allowed to dominate the global energy market, French Finance Minister Bruno Le Maire has said.

Addressing the French National Assembly, he also said that the Russia-Ukraine conflict should not end with US economic dominance and EU weakness. He said that the US took advantage of the energy crisis in Europe caused by the Russia-Ukraine conflict and the EU countries are now forced to purchase the same gas at a price four times higher.

Before the Russia-Ukraine conflict, most of Europe’s energy was imported from Russia. But due to the sanctions imposed by the European Union countries including the United States on Russia and the explosion of the Nord Stream gas pipeline that happened only a short time ago, Russian gas supplies to the European Union have been significantly reduced.

Russia accuses America of sabotaging gas pipelines

Gas prices in Europe hit all-time high after Russia cut gas supplies

Posted on by नेपाल राष्ट्रिय दैनिक

Gas prices rose after Russia cut gas supplies to Germany and other Central European countries.

European gas prices rose 2% to an all-time high after Russia invaded Ukraine. Critics have accused the Russian government of using gas as a political weapon. Similarly, Ukraine has accused Moscow of cutting gas supplies to spread terror among people.

On the other hand, Russian energy firm Gazprom has said that the gas supply has been reduced due to maintenance work on turbines.

Gazprom cuts gas to two energy firms in Denmark and Germany

Posted on by नेपाल राष्ट्रिय दैनिक

Denmark has become the fifth country to be cut off from Russian natural gas following the refusal of its biggest power wholesaler Orsted to pay for deliveries in rubles. Supplies to Shell Energy Europe Limited in Germany have also been halted for the same reason.

Russia’s new payment mechanism requires gas buyers from “unfriendly” countries that have placed sanctions on Moscow to open accounts in Russia’s Gazprombank. They can then deposit funds in their currency of choice, which the bank converts to rubles and transfers to Gazprom.

The Russian energy giant recently suspended gas exports to Bulgaria, Poland, Finland and the Netherlands after they refused to comply. According to the Russian Energy Ministry, about two dozen European companies have so far opened ruble accounts. RT

European Union to cut Russian oil imports by 90 percent by the end of the year

Posted on by नेपाल राष्ट्रिय दैनिक

European Union to cut Russian oil imports by 90 percent by the end of the year

EU leaders on Monday agreed at a summit focused on helping Ukraine to ban most Russian oil imports to the European bloc by the end of the year.

The agreement covers more than two-thirds of Russia’s oil imports. The EU agreement is expected to effectively cut oil imports by about 90% by the end of the year.

It also agreed to provide 9 billion euros in aid to support Ukraine’s economy. But it is unknown at this time that if the amount will be a loan or a grant .
This is the sixth EU embargo on Russia. Earlier, the United States and Europe had imposed various sanctions on Russia.