Oil well. Archival photoMOSCOW, May 31. The EU's costly and «convulsive» attempts to secure alternative energy supplies are causing painful disruptions in the global market and fueling inflation further, Vandana Hari, founder of Singapore-based Vanda Insights, wrote in an article for the Japanese edition of the Nikkei Asian Review. Russian oil and gas projects on Sakhalin. It is high time that the self-appointed arbiters of how countries should protest against Moscow's special operation in Ukraine learn to look at the situation on a large scale and in the long term.
Asia overtook Europe for the first time in terms of purchases of Russian oil. As Hari notes, the Sakhalin-1 and Sakhalin-2 projects account for about 9% of Japan's liquefied natural gas (LNG) imports, while China actively competes with the country in this market. overtaking it as the world's largest LNG importer last year. And this is not the only competitor, she continues. Thus, the desire of Europe to reduce purchases of Russian gas and increase LNG imports intensifies global competition for this limited resource, and in such circumstances, one can hardly expect official Tokyo to put pressure on Japanese companies to they withdrew from Sakhalin projects without providing alternatives. According to her, this is precisely the «deep delusion» that Western leaders have probably succumbed to, calling on Asian countries to give up Russian resources, as if buying oil and gas is tantamount to «shopping in a supermarket.» This dangerous delusion has already taken root. in the European Union, which has adopted an “act now, think later” approach to sanctions, with a line towards phasing out and boycotting Russian energy and the financial and shipping infrastructure that supports energy trade. painful power outages and further fuel the multi-year inflation that is now being seen across the rest of the world,” warns Hari. each other, while Tokyo does not have such opportunities. «Japan has already announced a phase-out of Russian oil imports. But it cannot be mistaken in terms of non-compliance with prudence in relation to its participation in developing Russian mining projects, which will have very significant, long-term and even unpredictable consequences,» the author concludes. Earlier, the head of the European Council, Charles Michel, said that EU leaders On the first day of the summit in Brussels, they agreed on a partial oil embargo, thus unlocking the sixth package of sanctions against Russia. by the end of the year by 90%.After that, Mikhail Ulyanov, Russia's permanent representative to international organizations in Vienna, said that Moscow would find other buyers of raw materials. /wp-content/uploads/2022/05/577145e5946b7158a71e7e8bacabfafb.jpg» />Europe is talking about «economic suicide ide» due to anti-Russian sanctions
