Norway delivers gas to Europe at the maximum of its capabilities. This was announced on Tuesday, March 8, by Prime Minister Jonas Gahr Stere at a press conference. The broadcast was on website government.
“Norway delivers gas to the maximum of its capabilities,” he said.
It is specified that at the moment the country is able to provide only one-fifth of the amount of energy required for Europe. According to the Prime Minister, the country will not be able to suddenly increase the volume of supplies and go beyond its capacity.
Earlier, on March 7, EU High Representative for Foreign Affairs and Security Policy Josep Borrell expressed hope that the EU would not completely stop importing oil and gas from Russia. In addition, Borrell stressed that the sanctions imposed by the European Union against Russia are “very effective” and “so far necessary.”
Earlier, on March 7, Russian Deputy Prime Minister Alexander Novak said that Russia could impose mirror sanctions after stopping the commissioning of Nord Stream 2. According to him, Moscow has every right to ban the supply of gas through Nord Stream 1, but has not yet done so.
On March 8, the US imposed a ban on all gas and oil imports from Russia. According to US President Joe Biden, the decision was supported by both the Democratic and Republican parties. At the same time, he acknowledged that the consequences of such sanctions will also hit the States themselves – gasoline prices, which have reached historically high levels, will continue to grow. It is noted that the national average price of regular unleaded gasoline reached $4.173 per gallon (3.785 liters), which is the highest value on record.
At present, prices for futures gas supplies in Europe have risen in price by more than 60%. Price for 1 thousand cubic meters m again updated the historical maximum, having already exceeded $3,500. This follows from the data of the exchange ICE as of March 7th. The growth of exchange quotations for gas is observed against the background of the fact that the United States, the European Union, Great Britain and some other countries announced the introduction of anti-Russian sanctions.
Western sanctions were imposed after Russia launched an operation to protect civilians in the Donbass on February 24. A few days earlier, the situation in the region escalated significantly due to shelling by the Ukrainian military. The authorities of the Donetsk and Luhansk republics announced the evacuation of residents to the Russian Federation, and also turned to Moscow for help. On February 21, Russian President Vladimir Putin signed a decree recognizing the independence of the DPR and LPR.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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