@KSE_Institute & @sanctionsgroup insights from Expert Conference on the Impact of Russian #Sanctions
1. Russia is losing the #Gas battle it has launched against the West
@McFaul @CraigKennedy77 @elinaribakova @BLSchmitt @ben_moll @ben_hilgenstock @Nataliia_Shapo
1/5
1. Russia is losing the #Gas battle it has launched against the West
@McFaul @CraigKennedy77 @elinaribakova @BLSchmitt @ben_moll @ben_hilgenstock @Nataliia_Shapo
1/5
Before the invasion of #Ukraine, 65% of Russia’s total gas exports by volume went to Europe, and around 90% by value, since exports to China and the CIS are at a much lower price
2/5
2/5
Russia has sharply curtailed exports to the EU in an effort to compel the EU to pressure Ukraine to make concessions to Russia
But this effort so far has failed.
3/5
But this effort so far has failed.
3/5
As of Nov 30, 2022 the EU storages were 92% full, well above the 90% target and providing a buffer for the upcoming winter
At the same time, Russia won't be able to redirect the gas to other markets
The @IEA forecasts its production cut by 111 bcm in 2022 and 139 bcm in 2023
4/5
At the same time, Russia won't be able to redirect the gas to other markets
The @IEA forecasts its production cut by 111 bcm in 2022 and 139 bcm in 2023
4/5
Overall Russian #OilGas financial losses are estimated by the IEA at US$ 1 trillion by 2030 compared to a no invasion scenario
5/5
5/5
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