Nord Stream gas pipeline. Archival photoMOSCOW, 18 Jul. Germany faces serious problems if the Nord Stream gas pipeline is not launched after a planned maintenance shutdown, writes Forbes. The main blow will be taken by the industrial sector, due to the rationing of electricity consumption. Hence, job cuts and production restrictions. There will be a shortage of manufactured goods, which, in turn, will put pressure on the global supply chain. Higher prices for energy and final goods will add to the inflationary pressures that are already undermining the global economy. Nord Stream is now completely shut down for scheduled maintenance due to be completed on July 21st. Some countries, including Germany and Austria, have expressed fears that after the work is completed, gas supplies may decrease or even stop. Now Nord Stream serves as the main route for Russian gas supplies. Germany has previously expressed fears that shutting down the pipeline could exacerbate the gas crisis in Europe.Europe suffers more than others from anti-Russian sanctions, Lavrov saidAfter the start of the Russian military special operation to demilitarize and denazify Ukraine, the West increased sanctions pressure on Moscow. Some countries announced the freezing of Russian assets, many brands left Russia. The European Union has already put in place six packages of sanctions, including an embargo on Russian coal and oil. But this turned into problems for the West itself, provoking a sharp increase in inflation and prices for food and gasoline. The Kremlin called the restrictions an economic war like no other, and took retaliatory measures by banning foreign investors from withdrawing funds from the Russian financial system and transferring payments for gas in rubles. As Vladimir Putin noted, the policy of containing and weakening Russia is a long-term strategy of the West, and the sanctions have dealt a serious blow to the entire global economy. Nevertheless, he is sure that current events draw a line under the global dominance of the West in both politics and economics.
