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How Putin held Europe hostage over energy | FT Energy Source

  • Published on Sep 6, 2022
  • Russia's invasion of Ukraine has prompted the biggest shake-up of European energy markets this century. This film explains how Europe became so dependent on cheap Russian gas, and explores the hard choices facing the EU as it tries to balance energy security and climate ambitions. Read more at on.ft.com/3D7bv31
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Comments • 4 431

  • PandaLivesMatter
    PandaLivesMatter 2 months ago +712

    The title should be changed to “How Europe made itself a hostage.”

    • aon10003
      aon10003 4 days ago

      Not so fast. The Russian gas supply has declined with 20 to 30 bcm per year for a number of years. Europe has spent the last ten years with sanctions and accusations before the war, so they became Russias least favorite cutomer. Its not smart to accuse someone of poisning somebody if you want to trade with them. All this led to that Russia had to dump one customer in 2021, and the choice felt to Europe. The situation was temporarily stopped because Putin ade a last ditch effort to stop the war in december 21 and redirected gas to Europe. Without that there would have been 10 to 20 bcm to little. And in 2022 there would have been 20 to 50 bcm to little even if there was no war. So the main pint here is that we would have had a disastrous lack of gas even witout the war. The underlaying problem is European lack of planning, or should i say piss poor planning. Thewar has made it more severe but is not the original problem.

    • randomcommenteronyoutube
      randomcommenteronyoutube 4 days ago

      @Epsilon What are you, my ex? Digging up things that I said 2 months ago to gaslight me?
      Anyway, yes, 2 months later, it looks like Europe is still on its way towards to finding alternate energy sources. Yes, gas directly piped from Russia is probably the cheapest option. That might be less true in a few years.
      And I see that you're another post-colonialist with a chip on your shoulder. I'm sure the ME and Africa are going to have great and wonderful futures. Come back to me when those futures actually materialize. In the meantime, continue to cry in your victimhood because some warlords and aristocrat from Europe oppressed your ancestors years ago.

    • biedl86
      biedl86 4 days ago

      @Epsilon In Germany the left had a hard time to even start condemning Russia's actions. The right never started condemning them. What's rendered to be russophobic is the center politics. They are called out by left and right. So, I don't really understand what you are saying. I'm not sure if you're joking or not. I don't see how it is accurate to say, Russia was forced to act as it does. That's taking away the blame their government rightfully deserves. NATO's east expansion wasn't just an active push towards the east. Bush's administration did that, but more than half the countries joined the NATO on their own, because they have bad memories from when they were part of the SU.

    • Epsilon
      Epsilon 5 days ago

      @biedl86 _Ye, with the subtitle "Financing Putin's war would have been better for everybody in Europe." Brilliant. /s_
      It would be better "Supporting russophobic far-right regime Europe didn't leave Russia any choice"

    • Epsilon
      Epsilon 5 days ago

      @randomcommenteronyoutube _Biiiingo. But oh well. They'll be fine in 2-3 years._
      Europe will be fine without economy? Ok. There is not enough liquid gas out there for Europe. If Europe finds some energy it will be very expensive one.
      _Russia, though...man...they've totally screwed themselves for decades over this._
      That's why Europe and West in general is where it is because of ignorance like you wrote here. Asian and in the future ME and African markets are enourmous. It is Europe that screwed itself. Huge chunk of their prosperity was holding on cheap Russian resources.

  • Cola Fish
    Cola Fish 2 months ago +433

    Since the western world can weaponized their financial system, why Russia can not weaponized their energy?

    • Acknod Bikes
      Acknod Bikes Month ago

      @Super Chuck 3 days? why? who claim that?

    • alcides ambriz
      alcides ambriz Month ago

      That's the stupidity of the world , it only becomes a problem when it's done against them. USS has blocked plant of countries out of they dollars nobody said a word. U can't bully Russia it's to big of a nation.👨🏿‍🦯👨🏿‍🦯

    • Wolede
      Wolede 2 months ago

      😂😂😂😂😂 Exactly wh@t I am thinking!

    • CompelledFungus
      CompelledFungus 2 months ago

      The oil sanctions certainly aren't weaponising energy around the world 😂

    • virupaksha walla
      virupaksha walla 2 months ago

      @azzazel225 I have probably done more than you. Sometimes you have to choose your poison and try and detox after. My point being this is not the time to be using false equivalence. Putin nerve agents folk on streets of UK just to prove he can. He is jailing folk for discussing his war. West maybe corrupt and a mess but we ain't there yet. Russian Kleptocracy is also a far cry from our un equal society but you could pick things that are better there no doubts. The tone of the comment was of equivalence. I remember folk saying our media lied about USSR (it did) and it was better than us. But in fact Stalinism was worse than we had imagined. If you like Trump and Putin just ignore this and I'll see you on the other side of the barricades.

  • Lee Kh
    Lee Kh 2 months ago +126

    Is not Putin but Europe themselves that held themselves hostage.

    • Ciprian Popa
      Ciprian Popa 23 days ago

      @Grip Another genius concluded.

    • Grip
      Grip 23 days ago

      Absolutely correct. Of course the unelected EU commissioners are too arrogant and stupid to admit this.

    • Ciprian Popa
      Ciprian Popa Month ago

      That's bollocks. Stop being stupid.

    • Grip
      Grip 2 months ago +3

      The arrogant stupidity of the EU in Brussels does not pay off very well.

    • LightCrasher
      LightCrasher 2 months ago

      Nope, Its the US holding Europe hostage by their pawns in european governments.

  • KTo288
    KTo288 2 months ago +8

    minor correction, the companies were not concerned with the cheapest prices for customers but to maximise the profits to themselves

  • James Silvester
    James Silvester 2 months ago +113

    When I was at uni in 2002 professors were talking about not relying on Russian energy. Its was kind of obvious it was a risky route. I can't believe we didn't have a back up plan. What are the leaders doing to not plan for that

    • Epsilon
      Epsilon 5 days ago

      Cheap Russian energy was one of the biggest secrets of Europe's prosperity since Soviet times. It's just Europe decided to support russophobic far-right regime in Ukraine that started talking about obtaining nukes. West just can't give up its supremacist ambitions and when they break their teeth on Russia yet again they start whining. No they actually always whine about Russia, they always unhappy that Russia isn't giving in to their arrogant dictate.

    • Hansel
      Hansel Month ago

      You're equivalent to the football fan, sitting in the pub drinking beer, yelling at the TV "just go around him ffs" or "just put the ball in the back of the net"

    • abdo aldwaib
      abdo aldwaib Month ago

      The back up plan was so expensive even at that time
      No one could resist russian gas because it's so cheap compared to other sources

    • 4unkb0y
      4unkb0y Month ago

      sitting on the board of Gazprom...

    • Haresh Vaswani
      Haresh Vaswani Month ago

      @Cenobyte YohMamaIsBitch cast.

  • Ludmila Turkova
    Ludmila Turkova Month ago +6

    There is a book by Christopher Clarke, describing the Way Europe “sleepwalked” into WWI. A very good Way of describing how Europe “sleepwalked” into Energy war with Russia one century after WWI.

  • tessie
    tessie 2 months ago +70

    I mean we use financial pressure to try to get Putin to do what we want, we never thought Putin would use energy to get us to do what he wants. How could he do this to us?

    • Mustaffa
      Mustaffa 2 months ago

      Now who sanction whos now .

    • Parag Tokekar
      Parag Tokekar 2 months ago

      Wonder why Central Europeans see Russia as an Enemy? They never attacked or did any bad to Europe in the History.. No one seems to ask this fundamental question to themselves..

    • Jack Spring
      Jack Spring 2 months ago

      Well said!

    • Keto Hero
      Keto Hero 2 months ago

      Russia would not even sell poop to the West. No fertilizers for the farmers!

    • Stan SPb
      Stan SPb 2 months ago

      @Roblox Cute playz !! T The US already has stated they have no excess to supply Europe. Besides LNG is not competitive or as immediate since it would take years for the terminals to be built.

  • Truthseeker 69
    Truthseeker 69 2 months ago +5

    The question that should be asked : Who sanctioned themselves out of Russian gas?

  • Wilhelm Van Babbenburg
    Wilhelm Van Babbenburg 2 months ago +611

    It's basically the story of incompetence of an entire generation of leaders. Hints a lot to the issues that our "great" system causes.

    • hknokke
      hknokke Month ago

      These leaders are not "incompetent". They're simply paid by your enemies and they receive the rewards of their very effective and very competent treason and deceit.

    • bluxmit alnoda
      bluxmit alnoda Month ago

      European leaders were elected and re-elected by Europeans

    • Nooraksi
      Nooraksi 2 months ago +1

      @William zk Russia applied to Nato twice since Putin came to power... don't blame everything on Russia! Russia also unlike Ukraine, Latvia and other Baltic states met all requirements to be accepted to NATO but USA said Russia is too powerful to be in NATO (USA, UK, Germany is not?)... Ukraine is the most corrupt country in Europe stated by UN as well, but of course worthy of NATO country 🤣🤣🤣🤣 And the last Finland and Sweden were asked by Turkey to export Terrorist individuals from they country only then they will be accepted to NATO (all NATO countries again don't care about their values just to spite Russia or damage Russia... only Turkey stood up and asked Sweden and Finland to follow NATO protocol to be accepted...) ! Also countries that are right and moral don't need to lie 24/7 like EU and USA does...

    • Dot Connector
      Dot Connector 2 months ago

      @rxstar66 And those same incompetent tyrannical technocrats think they are the best ones to 'build it back better'. They think we will believe that the same morons who failed badly will somehow magically make their rebuild succeed.

    • drt tgb
      drt tgb 2 months ago

      everyone of them laughed then someone warned them

  • Kales of Pune
    Kales of Pune 2 months ago +111

    Good overview but should be renamed “how Europe messed up its energy strategy falling for magic of cheap” !

    • mao zedung
      mao zedung 23 days ago

      @Grip It was done with the advice of the US. Because that is the plan ofd them not ours. For me personally its fine...I think many dies here because

    • Grip
      Grip 23 days ago

      And so stupid to rely on energy supply and at the same time boycotting Russia economically, which started BEFORE the Ukraine crisis.

    • praveen kumar potnuru
      praveen kumar potnuru Month ago

      What is Gas. Is it Gasoline or Natural gas?

    • mao zedung
      mao zedung Month ago

      You mean the US messed

    • jmy
      jmy 2 months ago

      @Piotr Wereski Germany blackmailed Russia by going along with criminal JOE sanctions and making hostile moves at Russia for decades. Criminal Joe blows up the pipelines so it doesn't matter anymore, I'm embarrassed at what he did ever since he got in office.

  • Obi Modum
    Obi Modum 2 months ago +135

    This just goes to show you that the all knowing hand of the market sometimes clashes with geopolitics. All the decisions Europe made were correct capitalist decisions, but capitalism doesn't take into account future geopolitics changes.

    • Nooraksi
      Nooraksi 2 months ago +1

      @Obi Modum Europe sanctioned Russia, it's not Russia who broke a partnership, but EU by USA orders! EU Geopolitics are with Russia, not with overpriced USA exports! It seems like this Russia vs Ukraine war is the first war in history of humanity by the comments I'm reading... maybe some people in EU believe that, idk... western media are doing a good job brainwashing society!

    • Definitely Zeblackcat
      Definitely Zeblackcat 2 months ago

      @Obi Modum Now lets see what the result of communism is. China faced a gruesome famine under Mao Zedong's "Great Leap Forward." Leading to about 65million deaths.The USSR form of Communism had 20million starve and freeze to death.
      You can't point to any succesful form of communism. Whereas capitalism has worked for hundreds of years and lifted more people out of poverty than Communism ever has. And in case you think China lifted anyone out of poverty, most of that was the result of lowering the definition of poverty. Not the living wages to actually sustain yourself. The only reason China has lifted itself up is by incorporating capitalism. Allowing it's citizens to earn something for themselves. I know... shocker.

    • Keto Hero
      Keto Hero 2 months ago

      Europe and US is facing huge inflation and recession. You, should look around, rather!

    • Obi Modum
      Obi Modum 2 months ago +6

      @Fusion Weeding out poor performers doesn't work when the alternative is poor planners freeze in the winter. Capitalism breaks down when it comes to life and death! Same is true for healthcare in the US. When a heart surgery is needed, the demand is inelastic.

    • The Rugby Channel
      The Rugby Channel 2 months ago

      Absolutely, Capitalism will be the fall of USA and its allies

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  • Jamie Hayward
    Jamie Hayward 2 months ago +22

    I remember Trump telling the German delegates at the U.N that they shouldn't be relying on Russia for their gas and they arrogantly laughed at him. Well, they're not laughing now.

    • Failure Gaming
      Failure Gaming 23 days ago +1

      How about the western blood thirsty savages just stop with the imperialism, stop trying to rule of the world, and learn to get on with others?

    • Grip
      Grip 2 months ago

      And Trump made the US energy independent. Undone by the present government.

    • Keyboardje
      Keyboardje 2 months ago +1

      Maybe The Rump not only told Germany, but also his big pal Putin, giving him the idea. Or...
      The Rump was in on Putins plans ahead of time, and was hoping to be able to sell US LNG to Europe instead, profeting from THEIR (The Rump and Putin) plan.
      And after The Rump, the new US government thought, hey, great plan! We'll put in it action also! $$$

  • Grant Williams
    Grant Williams 2 months ago +223

    "Apocalypse", in Greek, means "without cover", or "uncovering." An apocalypse, technically, isn't a decent into something bad, but just an acceptance what's actually always been true. Energy prices "skyrocketing" in Europe isn't actually energy getting more expensive. It's actually just Europe finally facing the reality that had always been there. The problem isn't that energy has become expensive. The problem is that it was so cheap for so long. Now is just the consequence of years of delusion.

    • Something else
      Something else 28 days ago

      @Duncan F NATO didnt react in 2022 either. (Not that they were supposed to.) They thought "that's the end of Ukraine, 5 days max", like everyone else.

    • Duncan F
      Duncan F 28 days ago

      @Something else they should have reacted in 2014 when they first attacked then...

    • Sky Lark
      Sky Lark Month ago

      @jammmy30 Forced occupations not break away regions, who asked you anyway, troll.

    • jammmy30
      jammmy30 Month ago

      @John Smith and again… you seem to have heard something, but lack the context. Finland was is and will be in the foreseeable future a smaller brother of Sweden. Their defense system is fully integrated with ours. We both applied at once precisely for that reason. To have a brake up of our alliance is about as likely as a brake up of United States (or pigs flying)..

    • John Smith
      John Smith Month ago

      @jammmy30 The Finland Sweden NATO membership is as good as done and on the preapproved fast track. Look it up.

  • Johnathan Sanders
    Johnathan Sanders 2 months ago +60

    A man had a spear and a shield for sale and was loudly praising his shield: "My shield is so strong that nothing can pierce it through. " Someone came for the spear, and was told,"This is the sharpest spear that can pierce through any shield."A 3rd person asked:" What would happen if you pierced your shield with your spear?" This rendered him speechless. --oxymoron proverb fr China 400BC🤣😂

    • V
      V 2 months ago +1

      I guess he would have sold both then ;)

    • james lawrence
      james lawrence 2 months ago +1

      Pivot on your spear Putin !

    • Ya boy Ed
      Ya boy Ed 2 months ago +3

      I had a good laugh reading this🤣🤣🤣

  • John Wang
    John Wang 2 months ago +105

    You ban import of your largest supplier and then complain there’s a supply problem.

    • Llywelyn Gruffydd
      Llywelyn Gruffydd Month ago +1


    • Monkey Squad
      Monkey Squad Month ago +4

      Yeah, these people think we are idiots to believe their shallow lies.

    • Truth In Shredding
      Truth In Shredding 2 months ago +4

      This ☝️

    • K L E I T H
      K L E I T H 2 months ago

      Yeah, it sounds funny. But I tell you why this happened. Europe does not want a war in Ukraine, but gets gas from Russia, Europe does not want to support the aggressor, so the Europe puts sanctions, Europe doesn't get the gas and that is a big problem for the EU. An the loop is closed and repeated.

  • J A
    J A 2 months ago +546

    Russian gas is not just cheap it is priced in euros. Meaning pre-sanctions the ECB could print money without any exchange rate risk to EU-wide energy prices and subsequently inflation. By all means, Europe can substitute for Russian energy but it would have to pay in dollars to the likes of Qatar, Algeria, Australia, Nigeria, USA.
    Remember, Russian gas has always supplied East and Central Europe (including East Germany)since the time of the Soviet Union. The dislocation is not a twenty-year dependence, but an 80-year dependency.
    These analysts did not see this coming instead they were predicting economic collapse for Russia and boasting of the strong poker hand that the EU had over Russia.
    For Europe like the naked emperor, it is a tragedy to be energy naked and refuse to recognize your nakedness, and instead stridently insist others buy into your 'beautiful green clothes' narrative.
    The claim that Europe doesn't have LNG terminals is misplaced, the UK has Milford Haven, the Dutch Rotterdam, Lithuania Klaipeda, and the Poles Świnoujście. These are all connected to the European gas pipeline network.
    By the way who's the biggest supplier of enriched uranium with a 35% global market share? Russia. By all means, build your new reactors but don't forget to build enrichment facilities.

    • bravado7
      bravado7 Month ago

      @Jin Zixin Some countries, like Iran and North Korea are pretty much blocked by the west.
      But there are plenty of countries are not necessarily "friends of the West" but still enjoyed 99% of the same benefits - foreign investments, trade, travel, tourism, etc. Countries that include China, Vietnam, Russia (before Ukraine invasion), etc.
      China (and Russia) have benefited greatly from opening up to the west and especially in China's case, greatly increased its influence and power in the last 2-3 decades.
      Note that China and Russia are even permanent members of the UN security council with veto power. Russia was even part of the G8 nations prior to it's Ukraine invasion.

    • Nicolò Cadamuro
      Nicolò Cadamuro Month ago

      @Jin Zixin that's not true. There are plenty of countries that are not friends of the West and the West respects them.
      We have a problem with Russia because Russia has attacked one of our partners and is threatening all Europe. It always happened in the past, Russia attacked Europe many times and got always defeated. It's going to happen again

    • Jin Zixin
      Jin Zixin Month ago

      If you are not a considered friend of the West, whatever you do is wrong, even harm yourself interest to give benifit to the West to get a better relationship. The only way you can do, is get away, give all ruled by the West, make your people become slaves of the West, and enjoy it....

    • Nicolò Cadamuro
      Nicolò Cadamuro Month ago

      @Vim de Zim Europe is doing fine with the gas, the reserver are even higher now. Russia instead is doing even worse thanks to the mobilization which is destroying even more their economy. The OPEC decision is going to help them though, but the embargo will start by the end of the year.
      My position is still the same: Europe is having big problems, but Russia is going though a complete collapse. Anybody who says that the sanctions are hurting Europe more than Russia probably needs to study economy more

    • Vim de Zim
      Vim de Zim Month ago

      @Nicolò Cadamuro a month on, what's your update of the falling oil prices theory?

  • Egg Surprise Memes
    Egg Surprise Memes 2 months ago +10

    So it’s ok for you to impose hardship on Russia but not ok for Russia to imposed hardship on you 😂

  • Edouard Rowlands
    Edouard Rowlands 2 months ago +289

    If sanctions are the tools of economic warfare, the supply of gas and oil are also tools of economic warfare. Is this, anything you can do , we can do better?

    • Julius Angawa
      Julius Angawa 2 months ago

      The oil and gas were sanctioned by America and EU. So it is not Russia 's fault, it is the EU fault and now they accuse Russia. Bunch of pirates, gangsters and plain thieves.

    • dennis rvd
      dennis rvd 2 months ago +9

      Europe don't have raw materials forget their colonial mindset....

    • D
      D 2 months ago +43

      It’s kinda hilarious when it comes to the way EU leaders dealing with that lol. They practically do nothing other than blaming Russia and playing the victim card when in fact they aint victims by any means

    • GM
      GM 2 months ago +1

      EU is literally sanctioning itself back to the stone age - there are many things wrong and unfair in this world - governments should be able to negotiate and do what's best for the masses not just the elites. Corrupt governments everywhere are the cause of all present issues - common man do not want war (nor be taxed 5 times for the same thing).

    • Kuei 12
      Kuei 12 2 months ago

      @Michael Davison Pipe down goofball. You sound like a gay, Biden puppet. Wait a minute, your real identity is Nancy Pelosi, isn't it?

  • Helio Cardoso
    Helio Cardoso 2 months ago +8

    It is always easier to invite Russia to be part of the EU without force or coercion or loss of sovereignty of their territory. We humans love making enemies out of one another

  • AutumnMoon58
    AutumnMoon58 2 months ago +72

    Why FT accused Russia of “weaponizing” gas? When it is EU that does the sanctions to leverage against Russia! Very puzzled by such irrational argument. If one needs help from others, don’t you think EU should be friendly or more accommodative towards R, instead of threatening its existence. Such biasness is intolerable.

    • Fikitupper
      Fikitupper 2 months ago +2

      @Regulus gaypontifax India will do what it needs for its citizens. Europe's problems are not India's problems. Europe only looks out for itself so if you wanted the war with your NATO nonsense you can deal with it. Meanwhile Russia has been a staunch ally of India and India will stick with Russia. So go cry to the EU or something.

    • Ed Gepixel
      Ed Gepixel 2 months ago

      Europe does what US wants.

    • 303maschine
      303maschine 2 months ago

      Those sanctions are against EUropean people, not Russians and Putin. All is going well according to plan of WEF and Schwab.

    • Farzana 🇺🇸
      Farzana 🇺🇸 2 months ago +1

      Who is threatening Russian existence? I think Russia is threatening Ukrainian existence.

    • Regulus gaypontifax
      Regulus gaypontifax 2 months ago

      We have told Russia we were weaponizing the fossil fuel markets for months... pressuring India, etc to stop buying fossil fuels from Russia
      Remember this press conference? ru-clip.com/video/njLeqiKXcUg/video.html

  • Lycan39
    Lycan39 2 months ago +96

    "Never bite the hand that feeds you"

    • mr swavee
      mr swavee 2 months ago

      as if EU is poor.😏

    • will liam
      will liam 2 months ago

      Never bites the hand that HEATs you

    • MuantanamoMobile
      MuantanamoMobile 2 months ago +1

      @Ebbe B deep pockets ?..not for long, without cheap energy.

    • Pholippe
      Pholippe 2 months ago

      @Arnoldas Buu They can get everything they need from China, don't worry.

    • Victoria Danco
      Victoria Danco 2 months ago +1

      @Craig Winston Are you trying to convince yourself or me that Russia cannot survive the sanctions? Yes, it will be difficult, the first years, but do not console yourself with dreams of a scenario that was in 1991. I work in the IT and still get paid for my work, if freelancers/ foreign Co workers left the country due to restrictions and work in Uzbekistan, Georgia, Armenia, then give them my condolences. If they will find ways to bypass financial transactions and also return to home (some have already returned, I look at my friends), not all, but this is expected. What are the last factories built in the world without the use of foreign technology, equipment or resources? Only the Russian Federation and several countries in the world can do this in modern realities, if necessary! ( since it is unthinkable to imagine such a thing in the capitalist system. National interests above hucksters ). This is a long game....
      There is no cheap gas, there is no competitive EU industry, there is no high-precision equipment, there is no money for development, there is no money, there are no resources that are usually bought in Europe -> world crisis. Why don’t you follow Ford factories or other companies that have significantly reduced production, but no one imposed 6 thousand sanctions on them?
      East, Central Asia, India is more than half of the world's population and they are in full swing the second democratic transition. They also want an 8-hour day, a pension, and decent pay. I don’t know what country you are from, probably from an one of the CIS, but if you think that this whole situation will not affect you, then a surprise 🥳.it will

  • BiteYrAnkles
    BiteYrAnkles 2 months ago +3

    All of this comes down to basic common sense. It's one thing to have discussions about not agreeing with something. It's another trying to ruin a country's economy when your own economy is tied to what you need from that country.
    Only thing I can come up with to explain this, it seems these governments wanted to ruin their own countries - starve and freeze them to death. But that would be my opinion on this only.

    • Jesper Salamanteli
      Jesper Salamanteli 2 months ago

      Russia is also suffering from the sanctions placed on it.

  • Jerry Foretich
    Jerry Foretich 2 months ago +202

    Comical! Did they not expect sanctions in return? This is a self-inflicted energy crisis in Europe.

    • Stan SPb
      Stan SPb 2 months ago

      @Jon Talbot How is that exactly? Russia is self contained and has more resources than it can consume, and has far more countries who are friendly to trade with so being blocked by a declining untrustworthy EU which is a party to killing 10s of thousands of Russian speakers in Ukraine. Russia is doing fine and has a large portion of the world population, about 70% on its side. Ask anyone in China, India, the middle east, or Africa SEA who is the more trustworthy partner. Europe is toast.

    • Stan SPb
      Stan SPb 2 months ago

      @Astro Northwet Who is the tyrant? Russia always honored their contracts but Europe did not. Europe funded, trained, and equipped the Nazi regime in Ukraine after the Obama/Biden coup that removed democracy in Ukraine and aided in murdering tens of thousands of Russian speakers in Eastern and southern Ukraine over the last 8 years. The last time European nazis slaughtered Russian speakers did not turn out so well. Europe never learns.

    • Blake Levi
      Blake Levi 2 months ago

      Putin has been sending clear threats since years that’s why Poland terminated their gas contract with Russia 4 years ago and chose an alternate gas source. Unfortunately Merkel‘s entourage was involved in the building of a new pipeline thus directly profiting from and the German masses went with it, not aware of the political situation. Now whole Europe suffers economically and there is war.

      O DIKAIOPOLIS 2 months ago

      The Amerocans pulled this stunt ......$ reserve status is in jeopardy.....

    • toetz
      toetz 2 months ago

      @vjsuxujrix ..and what would you do if you're the US prez and China will have military alliance in Mexico ? and the Chinese govt organized a coupde etat and install Mexico's president that is friendly to China? Bombs Away !!!

  • Valentin Lp
    Valentin Lp 18 days ago

    To me, you cannot simply resume the situation on a macro level in Europe. Each country has a very specific situation aligned with its energy-mix. For instance, France is largely less impacted by Russians actions than Germany… it is a really good way to get lessons for the futur regarding which energy-mix is to be adopted !

  • Vasuki Nagabhushan
    Vasuki Nagabhushan 2 months ago +68

    Importing LNG through ships is a lot more expensive and has a much larger carbon footprint than sending liquified natural gas from Russia to Europe through pipes.

    • bravado7
      bravado7 Month ago

      ​@Charles Scott I was responding to an earlier commenter who claimed that Russia honors all its contracts.
      Anyway this is frankly all Russia's fault. They have made their bed and now they have to lie in it.
      They got away free and clear from their earlier aggression of stealing Crimea, but you can't appease bullies with appeasement or they will never stop - you need to slap them silly and make them think twice about doing it again in the future.
      There's a reason why ex-Soviet countries like Estonia and Latvia have supplied more military aid to Ukraine per capita than any other country. They are also the staunchest backers of economic sanctions against Russia even though, as neighbors, their own economies have been the hardest hit by cutting off business with a large market right next door. They know that you can not win over a bully with appeasement.
      Now that Ukraine has slapped Russia silly, Russia will never attempt such a stunt again. Ukraine just needs to get back its territory that was seized within the last decade and sign an armistice with Russia.
      The Russian people have clearly lost the will to pursue this "war" and Putin could get overthrown if he insists on throwing good money after bad.

    • Charles Scott
      Charles Scott Month ago +1

      @bravado7 You can't declare an economic war on someone and still expects them to honour contracts that benefit you. Real world doesn't work like that

    • David G Fisher
      David G Fisher 2 months ago

      @bravado7 if a turbine isn't repaired AND returned to Russia because of US/EU sanctions, AND EU tries to implement an energy embargo against Russia , AND refuses to open NS2, then blaming Russia for the current situation is colossal stupidity. Today, both NS1 and NS2 were sabotaged. This comes after Biden and Nuland literally promised they would absolutely end NS forever. 👍

    • bravado7
      bravado7 2 months ago

      @David G Fisher So Russia's energy contract includes all the current disruptions? Did the contract also include anything about not sanctioning Russia?
      Don't forget about the memoranda, which Russia is a signatory, prohibited the Russian, the United Kingdom and the United States from threatening or using military force or economic coercion against Ukraine, Belarus, and Kazakhstan.

    • David G Fisher
      David G Fisher 2 months ago +2

      @bravado7 Russia built 10B NS2. Who refuses to open ffs? Who put 10,000 sanctions on Russia, and tried to implement an energy embargo on Russian fuel??
      Russia has honored all energy contracts to the letter for many decades.

  • biturboism
    biturboism 2 months ago +13

    “Waaait, are you saying that careless energy market liberalisation may not be a good idea, and that governments maybe have a responsibility for the energy security of their own states? That’s the first time I’ve ever heard this, mate.” - a McKinsey government management consultant right now, probably

  • Morlai Conteh
    Morlai Conteh 2 months ago +17

    I thought the sanctions were to squeeze Russia, but it turned out to be biting those who imposed it. If Europe does not come back to its senses lift sanctions they will put the entire global economy into recession.

    • Aaron Cox
      Aaron Cox 2 months ago

      Back to its senses? Of course, Russia should just be able to do whatever it wants.

    • Josef Pejov
      Josef Pejov 2 months ago

      @Otherguylb I bet you said the same thing about Iraq and 6 other countries bombed in the last 2 decades leaving millions dead. You also get oil from Saudi..I dont need to tell you that they bomb Yemen since a couple of years also with massive death toll..But hey, the whole world needs to suffer because some Europeans suddenly values human life and integrity..And talking about international law..How brainwashed are you? West has broken international laws for the last 2 decades..Hence it lead Russia to think that if the West can break the laws so can Russia..

    • Ed Gepixel
      Ed Gepixel 2 months ago +5

      Let's be honest here, it's not Europe who pushed for sanctions. It was the US, who do you think is calling all the shots?

    • M Fin
      M Fin 2 months ago

      There is no "way back" for Europe. Russia will never forgive them for supporting nazi regime in Ukraine.

    • Otherguylb
      Otherguylb 2 months ago +5

      Human lives and territorial integrity are more important than global economy being recession. So Europe has to come to senses to what? Allow Putin to take Ukraine by force, massacre the entire population and declare that there was never such thing as Ukraine? If we allow such an awful thing, then other small countries are also at risk. That's why we have international law, which should be strictly observed.

  • Flygerian
    Flygerian 2 months ago +9

    If you are going to fight an enemy. Ensure you are not tied to the enemy or depend on the enemy for anything. (never bite the hand that feed ya)

  • Ken Llàcer
    Ken Llàcer 2 months ago +3

    My only problem with this video is that all of these experts are correspondents of the Financial Times itself. I understand that this is not a news piece that requires outsider perspective and expertise, but I do question it's integrity in terms of it's storytelling.

  • Barry Walsh
    Barry Walsh 2 months ago +32

    A Norwegian style sovereign wealth fund could enable all Australians to benefit from Australia’s natural resources and help Australia manage the next resource boom.
    Gas companies operating in Australia have high levels of foreign ownership with a large share of profits going offshore. These companies also contribute little tax. In contrast, Norway has been taxing the profits of its oil and gas industry at 78% since the 1990s, building the world's largest sovereign wealth fund.
    Norway’s approach to natural resource management is premised on common ownership using revenues from the resource sector to ensure long-term stability and security for all. According to Jens Stoltenberg, former Prime Minister of Norway:
    “The natural resources in the ground, that’s something we own in common. It’s not private ownership”

    • Llywelyn Gruffydd
      Llywelyn Gruffydd Month ago

      It may be a bit of a conspiracy theory, but some people think that policies like these are part of the reason western leaders want "diversity." Divide and conquer ensures they don't have to contend with such policies, which are only ever possible in relatively homogenous societies that can more easily come to the necessary political consensus capable of producing them.

    • Emil Klingberg
      Emil Klingberg 2 months ago +1

      That's all well and good, but Norwegians are feeling the energy crisis as well, even though Norway has more Hydro power than the country can use, we sell it off to the EU, skyrocketing the prices your average Norwegian pays for their heating, cooking etc. And living in one of the coldest nations in Europe with 1500-2000 EUR in energy bills a month(During the summer!), the median pay in Norway is about 4000 EUR after Tax so that is in some cases half your income sent of to a private energy company, because Norway did the same idiocy as the rest of Europe and sold off all their energy plants to the private market. As much of a capitalist defender I am at times, there are somethings that with our current level of technology is done best when managed by the state, and Infrastructure is Nr1 on that list.

    • PolarXTA
      PolarXTA 2 months ago

      Great comment.

    • Damien Thorn
      Damien Thorn 2 months ago

      It's too late. During the recent 9 years of Liberal government, both at state and federal level, every state except WA has leased off their resources on 99 year terms. Which is why we are experiencing price rises. We have to buy it back. But in the current situation, our tenants are selling it back to us at an inflated price.

    • tokyo peking
      tokyo peking 2 months ago

      @Aaron Cox
      What about bush , obama, biden trump...they used to spill death around the world ?
      Their quota is far far away then ghadafis.

  • jordan green
    jordan green 2 months ago +5

    "An Energy supplier who then "became hostile" . . . . really? Like, they just "became" hostile . . . all of a sudden . .. for no particular reason?? . . .

  • Aqib Ejaz
    Aqib Ejaz 2 months ago +7

    Yeah, the Brits have the best interest of Europe on their minds. The same Brits who dumped the EU. I am amazed how the UK is even allowed a seat at the table when it comes to Ukraine and the future of European security.

    • Brone Toxa
      Brone Toxa 2 months ago

      British think just about urself )

    • Farzana 🇺🇸
      Farzana 🇺🇸 2 months ago +1

      The Ukrainians, the Poles and the Baltics want the Brits & the USA at the table more than they want the Western Europeans.
      They have almost zero confidence in Western Europe and the EU in general.

  • thetifosi MSC
    thetifosi MSC 2 months ago +26

    Should be renamed to “how Europe thought it had the power to cut off Russian energy only to find out it needed it more than ever” 😂

    • tony beatbutcher
      tony beatbutcher Month ago

      It will take only 2/3 years and the gas problem will be solved in Europe, it's Russia who shoots it self in the foot and that will last much longer.

  • derek wood
    derek wood 2 months ago +203

    I'd say Putin was always aware of what the EU reaction to his "Special Operation" in Ukraine would be, and he was more than prepared for it. The EU, on the other hand, made this knee-jerk reaction without considering its implications, and subsequently shot themselves in both feet! There's only one side doing any thinking in this contest!

    • JS
      JS 2 months ago

      I highly doubt that Putin was "more than prepared" for the current situation.

    • Stan SPb
      Stan SPb 2 months ago

      @virupaksha walla You are repeating what clueless western propaganda pushed without ever hearing anything from the Russian side. They planned for a long police operation because Russia knew the EU and US were the actual enemies trying to destroy Russia. Europe has invaded Russia too many times for any student of history to ignore.

    • Jack Hodges
      Jack Hodges 2 months ago +2

      I watched a q and a with Putin some time ago (years) and Putin was asked about Europe not buying his gas. Putin laughed and said that they also had a lot of wood that they could sell if Europe did not like gas any more.

    • H. Muse
      H. Muse 2 months ago +1

      Russia ought to have known...it is all in the Rand Corporation blue print report...

    • whoswho
      whoswho 2 months ago

      This channel is obviously just another US paid propaganda tool, if you want REAL News, watch;
      The duran
      The geopolitics conflicts show
      The New Atlas

  • dnotleythere
    dnotleythere 2 months ago +19

    Well, who weaponized gas. Europe chose to be reliant and chose sanctions on it.

    • Can Ertas
      Can Ertas 2 months ago +1

      @Maxwell Benz No. That is quite willingly benefiting from it. It sure eventually leads to being reliant as every parasite is dependent on the body it feeds from. I hope you're intelligent enough to understand this simple distinction. If not, simply ignore this message and do not waste my time..

    • Jefferson Ch • 20 years ago
      Jefferson Ch • 20 years ago 2 months ago

      @Maxwell Benz yeah, Trump was literally saying buy it from the US for more money.

    • Maxwell Benz
      Maxwell Benz 2 months ago +1

      @dnotleythere they don't want to live in reality, so admitting that Donald Trump was right will never happen

    • Maxwell Benz
      Maxwell Benz 2 months ago

      @Can Ertas that's choosing to be reliant.... Rofl.

    • dnotleythere
      dnotleythere 2 months ago +1

      @Can Ertas But taking advantage of cheap oil is choosing to be reliant. Not all of the EU did this. But several countries, such as Germany, have had several warnings about it in the past. Donald Trump, afterall, was laughed at when he tried to warn Europe. Before sanctioning,, it is fair to say, not much forethought was put into viable alternatives that make sense. The countersanctions or blowback is really hurting EU industry and the people far more than the ineffective EU politicians and Putin.

  • Country boy
    Country boy 2 months ago +82

    This is what my father said shoot on your own foot. You impose sanctions on Russia and expect Russia to fulfill your energy demands ?

    • Acknod Bikes
      Acknod Bikes Month ago

      @Jon Talbot US invaded in Iraq, where is humilition? Occupied Syria and where is humiliation?

    • Stan SPb
      Stan SPb 2 months ago

      @Hurri Who started the war? You think it started in 2022 and not 2014? If so you are so ignorant of the situation that you have no right to comment with your nonsense. Who installed the coup Nazi regime that removed Ukraine democracy in 2014? It was not Russia.

    • Hurri
      Hurri 2 months ago

      @Thomas Jefferson , you seem to understand it will cause climate change, that's a start. Good by.

    • Thomas Jefferson
      Thomas Jefferson 2 months ago

      @Hurri Wikipedia is not a reliable source of knowledge. CO2 is literally plant food. More CO2 in the atmosphere would lead to a world-wide mild climate, such as the planet experienced in the past. CO2 is not even the primary green house gas. it is not causing or going to cause catastrophic warming, it has never been demonstrated to be "the primary cause of global warming and climate change". The best thing to do about climate warming, assuming it is really happening and not just a temporary thing, is to adapt. This is far more humane and sensible than to try to ban fossil fuels and use merely solar and wind energy as the kook environmentalists want everyone to do (while continuing to use fossil fuels every day of their own lives).

    • Hurri
      Hurri 2 months ago

      @Thomas Jefferson , what a funny guy you must be, try to live on it for 10 minutes.
      Quoting the wikipedia:
      "Carbon dioxide (chemical formula CO2) is a chemical compound made up of molecules that each have one carbon atom covalently double bonded to two oxygen atoms, found in the gas state at room temperature.
      In the air, carbon dioxide is transparent to visible light but absorbs infrared radiation, acting as a greenhouse gas. It is a trace gas in Earth's atmosphere at 417 ppm (about 0.04%) by volume, having risen from pre-industrial levels of 280 ppm.[9][10] Burning fossil fuels is the primary cause of these increased CO2 concentrations and also the primary cause of global warming and climate change.".

  • Николай Кузнецов

    I like how modestly the "FT" kept silent that the UK never liked that Germany has a lot of cheap Russian gas. Ah, this British restraint)

    • Saka Saruuni
      Saka Saruuni 2 months ago

      The British have huge inferiority complex towards the Germans and French

  • Hakuna Matata
    Hakuna Matata 2 months ago +2

    If Europe is a hostage, then it is because they walked right into the kidnapper's house, and presented themselves as eligible victims. It is long past time we in the west find ways to meet our needs (both energy and goods) that do not feed authoritarian dictatorships in Russia, China, Venezuela, and the Middle East. We think getting stuff from these places is cheap, but it is not, when you factor in the costs of military support and rebuilding to the victims of their inevitable aggressions, which grow ever broader, and more sophisticated and capable. People often times include the colonial powers, and the USA in this list of offenders, and yes it is also true, although at least the west has real capacity to reform over time, because of the freedom of information and elections that underpin its systems.

  • Seeker
    Seeker 2 months ago +2

    While studying PPE at university, some years back, Germany and the wider EU's reliance on Russia was hailed as the neo-liberal principle of 'Interdependence' working. The theory is that if the EU was so heavily integrated with the health of Russia's markets, and Russia was reliant on German engineering and other EU imports, it would prevent any chance of war. War would be inconceivable between two interdependent societies because it would be far too expensive.
    Putin chewed up neo-liberal theory and spat it out the window.

    • Seeker
      Seeker 2 months ago

      @Patrick Starrfish Edinburgh. And I quite agree with you. Nuclear fission, and later fusion is the only means by which Europe can achieve energy self sufficiency in the long term.

    • Patrick Starrfish
      Patrick Starrfish 2 months ago

      Where did you attend university?
      I drove from Brno to Vienna in June. I saw nothing but hundreds of windmills on either side of the motorway after crossing into Austria. Austria and Germany are proudly anti-nuclear even though it is safe, clean, carbon-free and has nothing to do with nuclear weapons production.
      The EU continues to fail to recognize or mention the need to increase the supply of domestic energy production. Hundreds of Billions have been poured into “green energy” which can not power a first-world nation. No amount of solar or wind will be enough to sustain the EU’s energy needs, and the “energy transition “ is a sham.
      The EU’s anti nuclear stance will drive the continent into poverty. Nuclear is carbon-free and entirely unrelated to nuclear weapons or proliferation. The Fukushima disaster was from a tsunami occurring at a coastal nuclear plant whose backup power generators were placed below sea level. Fukushima was used as an excuse by the European Green Party lobby to accelerate the decommissioning of nuclear reactors in Germany, and prevent construction of new nuclear plants.
      That folly is now being reversed but the EU will experience at least five years of intense economic pain.

    • Munguci D. Etriga
      Munguci D. Etriga 2 months ago

      Not Putin who chewed it up and vomited. German and the rest of EU chewed and forced by US/NATO to vomit

  • Downtime Legion
    Downtime Legion 2 months ago +1

    All this could have been avoided if people with real qualifications and not checkboxes were chosen for positions of responsibility.
    The EU simply does not have leaders who can manage serious situations and this is the result you get when your most basic criterion for the position of responsibility is sexuality, skin color and so on.
    The conflict with Russia, energy and inflation are problems that the average person has seen and expressed their concerns for many years, it's crazy that people in positions of responsibility did not even have the common sense to see things as they have and to prepare properly.
    This is a sign that people in positions of responsibility are incompetent for their position.

  • Andrew Andrew
    Andrew Andrew 2 months ago +3

    Putin had been offering long gas contracts with cheapest prices for long time. Russia built North stream 2 where gas have already pumped into. But uncle Sam does forbid european citizens use it. To be sovereign that's the thing that EU has lost eventually.

  • Walter
    Walter 2 months ago

    It was very easy to imagine that Russia wanted to sell fossil fuels more than it wanted to possess Ukraine. Assumptions about Russia were logical, but assuming that Putin's objectives would be aligned with those of Russia were fallacious.

  • Truth In Shredding
    Truth In Shredding 2 months ago +47

    You don't mention the lack of strategic governance by the Tory party. They cancelled the the LNG storage in the UK. They privatised the electricity that now comes from France from their aging nuclear facilities. The UK not implementing their nuclear backbone before shutting down the aging reactors. Too busy making money for themselves to make the right calls on strategy. Also, where are the consultants advised the government now? Let's see them held to account.

    • Truth In Shredding
      Truth In Shredding 2 months ago

      @sigma six see the crashed economy for details.

    • sigma six
      sigma six 2 months ago +1

      re: consultants advising govt... they're out looking for the next 'hit' (my best guess)

    • Truth In Shredding
      Truth In Shredding 2 months ago

      @Hurri true. Nuclear power plants are more complex than other large-scale power generation plants, and so are more capital-intensive and may take longer to construct. Typically a nuclear power plant will take over five years to construct.

    • Hurri
      Hurri 2 months ago +1

      Lukily for Britain the French are building new reactors not only in France but in the UK too.

    • Danny Church
      Danny Church 2 months ago +2

      Watch again, they did mention it, clearly.

  • Roque Baeza
    Roque Baeza 2 months ago +39

    Eu sanction Russia
    What do Europe expect,
    An award?

    • Eilam Harnish
      Eilam Harnish Month ago

      Saka Saruuni, do you know that U.S and Europe are 50% of the global hydrocarbons demand?

    • Hurri
      Hurri 2 months ago

      @Saka Saruuni , Europe has alternative sources too, like Norway which is increasing it's production and there is Algeria with links and pipes to Europe. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter.
      And there is LNG.
      Some countries depend more some less on natural gas but all are moving away from it anyway.
      Changing systems takes some time but there is now no way going back due to Putin.
      Also China is moving away from burning for energy and will have more than 20 new nuclear reactors within 10 years.

    • real life hack
      real life hack 2 months ago

      @Saka Saruuni lol....Russia has no good LNG facility...second it has only one pipeline connecting to China...that is it...building these infrastructure take years and with Russia under heavy sanctions, they don't have the technology to build it....there is actually a real story of Russia removing chips from toilet facilities to help in weapon productions 😂

    • Saka Saruuni
      Saka Saruuni 2 months ago +9

      @real life hack Russia has alternative markets for its energy (Asia), the EU dont have alternative supplier who could supply at the prices of Russian Pipelines

    • real life hack
      real life hack 2 months ago +1

      Russia will eventually lose more

  • Riching Lion
    Riching Lion 2 months ago +8

    Yes, if we forgot to pay water bill or electric bill, suppliers cuts their supply services...most EUs forgot to pay their Gas bills, natural for Russia to cut gas supply services...in fact Russia had consider free for few months supply but they did not paid...gas investments and labor is not free...Truth sets us free and GodBlessUsMoreInTruthAlways 🙏🙏🙏

  • 刚
     2 months ago +6

    Nato first poke the bear by driving forward with this expansion idea to Russia's border... you only got yourselves to blame.

  • Fu Man Chu
    Fu Man Chu 2 months ago +6

    These guys tell half truths. If you watch a presentation by John Meirsheimer on Russia & Ukraine that gives a fuller picture.

    • Tahoe Camper
      Tahoe Camper 2 months ago +2

      Yup they always play the victim. When they were actually the aggressors.

  • Hey
    Hey 2 months ago +110

    Remember how the German ministers laughed at Trump's speech at UN. About how Europe will become completely dependent on Russia if they don't change their sources. I remember. And it's hilarious everytime. I am not even a fan of trump but it really tells a lot about the clown of ministers that are running Europe. Even Trump had enough forsight to see this coming and if trump is a clown than what does that make European ministers?

    • Lewis72
      Lewis72 Month ago

      Can't you Google it ?

    • Llywelyn Gruffydd
      Llywelyn Gruffydd Month ago


    • Craig Dillon
      Craig Dillon Month ago

      Trump is sneaky, and smart in conning and lying.
      In all other ways, he is an idiot. The fact that he could see and articulate this problem shows the European ministers to be brain dead fools.

    • Wolede
      Wolede 2 months ago

      Well Said !

    • Parag Tokekar
      Parag Tokekar 2 months ago

      EU has great intelectual leaders who think dishwasher and refridgerator chips can be used in Military equipment !! What else once could expect..

  • А в Брайтоне хорошая погода

    I just wonder why nobody said anything about 3rd Energy Package and that it is Europe decided not to use “oil formula” for pricing gas and made gas an independent position on market, e.g. oil $80-100 - gas about 60-70% from that. Plus it is Europe decided not to sign long terms contracts on gas which guarantee lower prices. I’m sure very soon we all find out who is making a fortune in this situation. European energy companies won’t go bankrupt that for sure.

  • Philip Wells
    Philip Wells 2 months ago +3

    Energy is the most important resource beyond all others.

  • Thiago Moreno
    Thiago Moreno 2 months ago

    The whole reason behind the dependance on gas is because europe is pushing for more solar and wind.

  • griegs2001
    griegs2001 2 months ago +2

    According to Washington Post "Earlier this month (i.e March), E.U. officials announced a plan to curb Russian gas imports by two-thirds by the end of the year." So they have got even more than what they planned for.

  • MiRu
    MiRu 2 months ago +5

    Long story short. Europe has to pay more for safe "freedom" gas from the USA. Also, they had to buy some from middle eastern absolutistic monarchies as well. This will not end well.

  • Gillian Orley
    Gillian Orley 2 months ago +1

    Gosh, if only some high-ranking government official had warned European leaders about this danger years ago.
    Too bad these people in the video can’t think of a single example of such a warning. 😉

  • Nick Bland
    Nick Bland 2 months ago +45

    Imagine the hubris of thinking you can tell a country what currency they have to sell their gas in and how much they have to sell it for after declaring defacto war against them militarily and economically and being shocked when they just say no we'll sell it to someone else.

    • Tebukooza IanWilliam
      Tebukooza IanWilliam 2 months ago

      My father used to say "Common sense is not common"

    • oyvey
      oyvey 2 months ago +6

      @MintberryCrunch it's also called, you tried to crash the ruble, and stole 300billion in foreign reserves... gas will only continue on new terms.

    • MintberryCrunch
      MintberryCrunch 2 months ago

      it's called a contract, genius, you agree on terms such as the currency in use.

    • oyvey
      oyvey 2 months ago

      Women do run Europe.

    • virraat
      virraat 2 months ago +5

      This! The hypocrisy is just staggering.

  • Giggs Rayn
    Giggs Rayn 2 months ago +35

    Energy and food are the most important national security. If you can't produce it, your country will suffer later on.
    Just remind that the west produce very little battery, solar panels. They will suffer it later on.

    • Hurri
      Hurri 2 months ago

      @conny nielson , wow you don't say, what if they don't provide during the night either.
      Looking at Finland just now we get 3474 MWh from nuclear, 1563 from wind, 1092 from hydro and 101 from solar and it's very cloudy. Not much but we don't have that much of it either. No reason to ditch it still.
      And at times we are able to export electricity too, at this moment we are importing about 5,6 % from the Nordic grid of what we use right now.
      We get about 41% from nuclear right now and that percentage will increase during this year still.

    • conny nielson
      conny nielson 2 months ago

      Not enough sunlight in Europe to have solar power from September to May...in September 1m2 panel provides 1 hour of energy per person per day...how would that work for factories ?

    • Hurri
      Hurri 2 months ago

      So name me a country that doesn't import anything (and export), North Korea yes perhaps but anybody else you are thinking of and worried about it's security.

    • Adi Graf Positas
      Adi Graf Positas 2 months ago

      @E C Where did I write that?

    • E C
      E C 2 months ago

      @Adi Graf Positas Thanks for making one of my points clear. They didn’t diversify their energy sources properly. They invested far too much money into renewables when they should have been spending half of that money on nuclear energy.
      However, what confuses me is that you still want more money in solar and batteries when that is exactly what they have done.

  • Andre Zinger
    Andre Zinger 2 months ago +1

    That is a funny statement. Europe puts in place the harshest economic sanctions ever, against Russia, but, according to the headline, it is Russia who is holding Europe hostage. Imagine a group kidnaps a person for ransom. What you are saying is that the kidnapped person is holding the original kidnappers hostage, because they have to watch over such person.

  • Vedang Upadhye
    Vedang Upadhye 2 months ago

    If for you it's cheaper we want care from where it's coming
    That's the human nature no matter what we say we will contradict our statements regarding such things

  • Garry H
    Garry H 2 months ago +3

    The strategy of Putin .
    The art of war..

  • MrVaticanRag
    MrVaticanRag 2 months ago +11

    Berlin, Germany (World Express). War in Ukraine began on February 24. Since then, the sanctions imposed by EU countries against Russia have started to have a negative impact on European economies. The sanctions boomerang came as a surprise to the federal government, most politicians in the traffic light coalition and ordinary voters. However, as it recently turned out, these consequences of the anti-Russian sanctions were unexpected only for the Germans. The USA had calculated all the consequences in advance and, moreover, consciously decided to weaken the German economy.
    As early as January 25 - a month before the outbreak of war - RAND Corporation prepared the secret report "Containment of Germany for the United States and the world" for the US secret services and the US Democratic National Committee. The purpose of this report is very simple: the US provokes Russia in order to declare it an aggressor and to force Germany to impose suicidal sanctions on the Russians.
    The aim of US policy is to weaken Germany as much as possible, according to the Rand report. Although Germany remains a country with limited sovereignty, the pace of economic development in the EU depends on the state of the German economy. The development of Germany could ultimately make Europe not only a political but also an economic competitor to the USA, the Rand experts write. That must not happen.
    The German economy is vulnerable because it relies on unlimited access to cheap Russian energy. A sanctions war provoked against Russia could put an end to this. A disruption in Russian supplies could trigger a systemic crisis that would be devastating for the German economy. According to the Rand report, this is the purpose of the US policy of provocation.
    Germany is even more vulnerable because the German Green Party is too ideological. According to the report, your spokesmen will abandon economic pragmatism in favor of dogma. “The Greens will be the “war party” that could destroy the German economy.
    The report accurately predicts the impact of sanctions on Russia on the German economy: a loss of 200-300 billion euros in 2022 alone. The authors accurately predicted a fall in the euro rate below the dollar rate. They also predicted that German GDP would fall by 3-4% per year over the next 5-6 years. Most predictions have already come true. Germany is in an economic crisis comparable in scale to the losses suffered by the German economy after the Second World War.
    We have to realize that Germany has become the victim of a provocation by the United States. The war in Ukraine was used by the Americans to destroy the EU economic engine, devalue the euro and shut down German industry. The sanctions with which Germany is at war with Russia were only necessary to please the Americans.
    WELTEXPRESS is contacting the RAND Corporation and will continue to pursue the issue.
    See also the article Documentation: A confidential RAND report dated 01/25/2022 in WELTEXPRESS English

    • Earl Grey
      Earl Grey Month ago

      @Clifford Jessup
      What a stupid comment !
      People like you should shut up !
      Are you american ? 🤣

    • Clifford Jessup
      Clifford Jessup 2 months ago

      Wow what an ego! Everything is about Germany!

  • Cathal Burke
    Cathal Burke 2 months ago +2

    Did he really hold Europe hostage over energy or did European leaders just not hesitate in throwing their own citizens under the bus??

  • LooseNut099
    LooseNut099 2 months ago

    Superlative content, thank you FT.

  • jiri k
    jiri k 2 months ago +5

    Nice to know the official version of events.

  • Try Andy
    Try Andy 2 months ago +1

    EU deserve this. They were all conquered by the big oil executives until something like this happens and they are forced to speed up renewable energy infrastructures which also is a good thing for the earth.

  • guillaume guerin
    guillaume guerin 2 months ago +2

    Well it is Russian gas and its to keep !
    Also who knew that advancing military bases towards Russia for the past 30 years would turn them unfriendly ? 🤨

  • Ang Gill
    Ang Gill 2 months ago

    “Nobody had the foresight to see that Putin would weaponize gas” But surely the UK government should’ve made it their priority to ensure privatized utilities had not put their gas eggs all in one basket? I’m sure they did, but if they’re anything like American politicians , who’s going to object?
    This sort of negligence happens when politicians are invested in the private utility companies up to their eyeballs and could care less where their profits come from, and even less about doing a competent job for their constituency. It’s extremely shortsighted for the well-being of the country, but personally lucrative, even in the short run., for those involved.

  • TO
    TO 2 months ago +1

    LNG Energy will easily add 6x or 8x to producers or consumer prices.. Companies won’t be able to compete and drain consumers of any disposable income..

  • Michael Berger
    Michael Berger 2 months ago

    Perhaps they could allow home owners to put up solar and write the whole cost off in say the next 3 years.

  • Ivan Tcherniaev
    Ivan Tcherniaev 2 months ago +2

    So... help me understand this: perhaps at first it was not totally crystal clear that dependency on Russian gas a is bad idea. But surely, after Orange revolution, it became very clear to everyone. And after Russia took over Crimea every person in the entire Europe would understand that depending on Russian gas is a terrible idea. Yet very little was done to address this risk. And what we see today is a very natural outcome of this blindness. Forgive me, but it is hard for me to feel bad for poor Europeans.

    • Ionor Rea's Tragicomic Channel
      Ionor Rea's Tragicomic Channel 2 months ago

      Russia actively sabotages the independence of Europe from Russian gas some pro-Russian European leaders campaigns were even financed by the Russian elite likely just making a middleman to hide the Russian government, and as Europe could get gas much cheaper from Russia than anywhere else, it was not very hard to persuade. There was also a sense that if Russia will be dependent on European money, it will behave better than if Europe let Russia become the next North Korea. Ukraine's gas exploration was among European projects that got sabotaged by Russia when they started chaos in neighboring Transnistria just to make Western gas exploration company back off from the deal to start digging gas on Ukraine's soil that would make Ukraine far less dependent perhaps even allow export to the EU itself, something that Russia certainly did not want let to happen. While some media can make you think that everybody in leadership is stupid while they are armchair generals everybody should listen to, Europe wanted good relationships with both the US and Russia but as the US during the Bush Junior administration promised Ukraine NATO membership and later administration actively interfered with the democratic process in Ukraine to counteract the same activity performed by Russia which wanted keep its Western buffer and control over the Black Sea at all cost similarly as the US was willing to do anything to keep Russia out of Cuba, Russian leadership found itself in a position which could not win just by economic trade incentives, bribery or threats like poisoning leaders that did not play the ball and thus chosen diplomacy by military means..

  • USA -Racist War Machine
    USA -Racist War Machine 2 months ago +24

    Congratulations to EU to contribute big USA oil/gas jumped profit. USA should give them a medal of honor.

    • real life hack
      real life hack 2 months ago

      Would rather help USA than Russia

    • PolarXTA
      PolarXTA 2 months ago

      @Rag2018 True.. I mean weapons manufacturers wouldn't have much to do if no wars..

    • Rag2018
      Rag2018 2 months ago +1

      @PolarXTA well the ceo of raytheon openly talked about how excited he was with tbe prospect of ukraine war after disappointed with the withdrawal of afghanistan

    • PolarXTA
      PolarXTA 2 months ago +1

      Youv'e noticed how USA is profiting from this already :) Lots of loaned weapons too.

    • Rag2018
      Rag2018 2 months ago +2

      @Moon Shine who is losing to.ukraine lol. their entire army is almost wiped out.

  • whitewittock
    whitewittock 2 months ago +10

    To be fair at one point it seemed like Russia was a strong ally, fighting the terrorists in Syria etc doing what we gave up on doing, Israel still sees Russia as an ally in it's air strikes

  • JC * inc
    JC * inc 2 months ago +14

    What not one these representatives of the oligarchs is asking: would it get to that point, if Europe has NOT listened to the United States?

    • Keto Hero
      Keto Hero 2 months ago

      Plainly, this media outlet is controlled by the West

    • Big Boss
      Big Boss 2 months ago


  • Thomas Huth
    Thomas Huth 2 months ago

    Sometimes you decide to become a hostage quite deliberately.

  • mantrinbago
    mantrinbago 2 months ago +112

    Putin didn’t hold anyone hostage. Western Europe rushed into green energy and net zero without understanding such transitions take time. And they levied sanctions on Russia for the war. This is a classic case of careful what you wish for. Let’s see how that mythical green energy keeps Europeans warm this winter.

    • Alain Portant
      Alain Portant 2 months ago

      "green energy" and "zero carbon emission" transitions will never happen, it's a scam pulled on european populations and the western world at large.

    • Hurri
      Hurri 2 months ago

      @Thomas Jefferson , I think Biden signed up the USA again for good reasons.

    • Hurri
      Hurri 2 months ago

      @Ed Gepixel , yes there is Europe and China and there will never be Russia.

    • Thomas Jefferson
      Thomas Jefferson 2 months ago +1

      The Europeans don't need to worry. They have all signed on to the Paris Climate Accord!

    • Daniel Hutchinson
      Daniel Hutchinson 2 months ago

      @Hurri Victoria Nuland seems to smell like Tuna, and her war is even worse......

  • Rubin Blanc fadeline
    Rubin Blanc fadeline 2 months ago +6

    In war, anything can be used as a weapon.

    • Randy paul
      Randy paul 2 months ago

      they think that they can cause problem for others, and then blame them when they retaliate--these monsters are living in a sick dream world

  • John Gordon
    John Gordon 2 months ago +1

    If sanctions are going to remain in force Europe will have to seriously reevaluate the sanctions because alternatives have proven to be very expensive.

  • Marja Ashamalla
    Marja Ashamalla 2 months ago +2

    I am against any war! But I do not blame Putin for stupidity of European leaders, and understand him that he will not supply the countries which support restrictions against him and his nation.

  • marcurt100
    marcurt100 2 months ago +11

    When I saw FT I was Like great real news, but I was wrong a waste of 23 minute, people want real factual investigated news, won't happen again.

    • Makate Rapulana
      Makate Rapulana 2 months ago

      another Western mouthpiece funded by the CIA, its content is meant to be consumed by the conditioned Western public.

  • Global ist
    Global ist 2 months ago +1

    If it was the other way around, the European leader would already have mysteriously died in strange circumstances involving radioactive poisoning.

  • Mikael Persson
    Mikael Persson 2 months ago +2

    Everyone who knew anything about european energy has been telling them they are vulnerable and need to build alternatives for years, there a famous clip from the european parliment where the french are critizising the germans for making themselves vulnerable and the germans are just laughing at the concern. There is a single simple reason they did so, and its price, they took the cheap and easy option and ignored the problems everyone knew were inevetable.

    • Hurri
      Hurri 2 months ago

      @nathan kalenge , the problem is Putin.

    • nathan kalenge
      nathan kalenge 2 months ago

      Self created problems

    • Hurri
      Hurri 2 months ago

      You think Putin was inevitable. Perhaps so, damned sad for Russia if so.

  • Scot Johnson
    Scot Johnson Month ago +2

    Last I checked stealing a country's foreign reserves and holding their currency hostage is a form of economic warfare. Imposing sanctions on a nation and refusing to conduct business with that nation is also a form of warfare. Russia isn't refusing to conduct business, but Russia is refusing to give away their resources for free. Refusing to be trampled on can hardly be construed as conducting warfare.

    • FiveCylinder Perfection
      FiveCylinder Perfection 20 days ago +1

      And the sanctions have not slowed the war either, in fact it's actually being escalated. Europe could ease their inflation problems by lifting the sanctions and try some diplomatic pressure. But it appears that corporate interests have no appetite for a ceasefire or peace negotiations while there is a fortune to be made from blaming a war for massive price increases.

    • елена джумартова
  • Imprudentman
    Imprudentman 2 months ago

    If you follow the logic of these gentlemen, then the sacred element in the economy should be the dollar, which the US government will print as much as it wants in order to get anything for these candy wrappers. It is really difficult to understand how Putin can politically influence Western Europe when he only carries out commercial transactions with Europe in the form of oil, gas supplies and everything else ..🤗

  • Erik H
    Erik H 2 months ago

    Amazing. We are lucky to get this for free

  • Joseph James
    Joseph James 2 months ago +1

    The title of the video is incorrect. Did the EU think they could levy sanctions on Biden’s behalf without consequences? BTW, Trump warned Germany about this and they laughed at him.

  • Johan
    Johan 2 months ago +3

    The borrower is always slave to the lender, but this is a little different. But still, being dependent is not easy

    • Parag Tokekar
      Parag Tokekar 2 months ago

      Borrower lender are atleaste connected with a transaction. But why become slave of a distant unrelated Warmonger across great ocean..

    • Junior James
      Junior James 2 months ago

      The drug-dealer and addict analogy is more apropos.

  • meathook3000
    meathook3000 2 months ago +2

    9:41 that was a Ukrainian AA missile failing and hitting a residential building in Kiev, btw.

  • Mario Marius
    Mario Marius 2 months ago +1

    This has become a spectator sport for those of us not in the directly impacted countries. UNFORTUNATELY FOR ALL, but this is reality. Putin, has single-handedly, delivered several and more strategic blows than all the sanctions imposed on him/Russia, by those who went on the offensive FIRST. Years ago, Putin has asked that the USA's military warheads, be removed from Russia's front door. The USA, the biggest financial supporter of NATO, up until a day like today, is yet to move but, has continued to aggress, closer and closer to Russia's borders. RU-clip this fact, the same way you youtube everything else. SADLY, many of us are paying for this - a complete change of livelihoods, inflation, etc ... no one has been spared. But you have to give it to him. Russia is still standing, being pushed against the back ... with the entire NATO joining forces, and still, they can't defeat him/RUSSIA. Unless, we are now to believe the conspiracies - that wars are for money reasons, and soldiers and families, and citizens are just collateral damage. Based on this video, EUROPE should have known and done better - how can you "DISRESPECT YOUR ELECTRICAL COMPANY SOURCE AKA RUSSIA" and then complain when they cut off the POWER.

  • Deepak George
    Deepak George 2 months ago +8

    When is FT releasing another video about "How EU and west held Putin and other countries hostage over economic sanction".. This will give context where this video will make sense.. I would say Putin should have cut the gas immediately when the first sanction was declared by Holier than Thou countries and their cronies.. Putin made a mistake by allowing their 80% to be gas to be filled.. I think Putin has agreed with EU decision to cut dependency and terminated the gas immediately.. EU should be happy that their objective is met and hence roaring success.. Good Job EU..

    • Pholippe
      Pholippe 2 months ago

      @Maxwell Benz I really don't know what their mid-long term plan is. Maybe they hope Putin will give up and say he 's sorry ? Or throw half of the population into poverty rather than admit they were wrong ? Or make up some story to eventually lift the embargo ? Or even worse, they believe all ties must be cut with evil non-progressive Russia ? This looks more and more to me like cult-thinking......

    • Maxwell Benz
      Maxwell Benz 2 months ago

      @Pholippe it's like Europeans think the world stops after winter.... They haven't planned at all. It will take 3 years to replace the energy Russia provided.

    • Pholippe
      Pholippe 2 months ago +1

      I don't even think he made a mistake by allowing their 80%. It's 2 months of annuel consumption, 6 weeks in winter, no big deal.

  • Nick Bamber
    Nick Bamber 2 months ago +5

    I seem to remember it was the EU and Germany who said no to NordStream 2.

    • Natalia S
      Natalia S 2 months ago

      Look up ex German Chancellor Gerhard Schröder- Nord Stream II was his baby

  • MeGaDuCk
    MeGaDuCk 2 months ago +1

    the only thing that awaits Germany is deindustrialization. because you need to be a sovereign country that defends its interests and not lackeys of the United States, which are the majority in the European Union. and the United States, well done, removed the economic pawn from the chessboard.

  • Titan
    Titan 2 months ago +2

    To every media NARRATIVE that only exists in the here and now, there is most definitely a beginning, middle, end.
    Unfortunately media play on the public only having short term memory without the willingness to do any research for themselves.
    Amazing what you find out about a STORY when you dig into it and are able to lay so many more facts and information on it.
    I do believe they call it CRITICAL THINKING, something the establishment don’t want you taught in school.

  • Low Budget Tech
    Low Budget Tech  2 months ago +207

    Once again, Russia using winter as a counter-weapon😅

    • Llywelyn Gruffydd
      Llywelyn Gruffydd Month ago

      The west sanctioned Russia over an invasion for security related reasons that everybody from Chomsky to Kissinger explained would happen a decade ago. So.. no. There is an energy crisis in Europe because 1. the US guaranteed the invasion of Ukraine by pursuing the policy it did in Ukraine after 2014 and the coup and 2. the west sanctioned Russia for doing what everybody 10 years ago said they would be forced to do. To then turn around and argue that Russia is using energy or winter as a weapon is absurd. None of this had to happen. In fact, the US could end it today but they refuse to because they have this crackpot theory that they're going to weaken Putin's government with a proxy war.

    • Wolede
      Wolede 2 months ago


    • D Neuman
      D Neuman 2 months ago

      It appears Russia has become over educated from huge gas reserves. And at the same time unwilling to fight or work for fair wages. But most willing to frolick in black markets floating on megayachcts and hit job bullying with dreams of world domination. Mega greed delusions!

    • david doink
      david doink 2 months ago

      @Stefan Struger And maybe German Industry if they are not careful.

    • vjsuxujrix
      vjsuxujrix 2 months ago

      @Ask Why one of the first thing Biden said. "It's going to be a cold winter". This is all planned out.

  • Rud Beckia
    Rud Beckia 2 months ago

    Short term victory but a critical loss of trade partners

  • Neil
    Neil Month ago

    I just hope the Europeans learn their lesson and don’t prioritize “green” energy to the point of compromising their energy security. Time to start going back to Nuclear energy plants and do business with friendly energy partners.

  • Philip Woodgate
    Philip Woodgate 2 months ago +8

    Germany was directly warned by the US about dependence on Russia. We all love to criticize the US, but for the most part I have found them to be at times very forthright, direct and often right.

    • Big Boss
      Big Boss 2 months ago

      they were warned for so long. but the germans believed themselves smarter than american and did it anyways

    • Stan SPb
      Stan SPb 2 months ago

      The US created this mess and decline of both Europe and the US. Russia has had it with western aggression and finally is putting responding. How long did the EU expect to accept a western supported and commanded authentic Nazi regime once again murdering thousands of Russian speakers? 8 years of killing and not a word of protest in Europe, but as soon as Russia steps in to stop it and everyone has a fit. What did they expect? The result however is a needed breakdown of the unipolar world as ruled over by the single Hegemon which has started wars all over the world, 173 to date. The whole world broken into two factions in March 2022 so the US empire shrank from controlling 100% of the world to 30% as the victim countries were cast out and formed their new pole of a multipolar world that is independent of the US empire and represents 70% of the world population and all the growing economies. Europe is in deep trouble due to being controlled by the US, and no one outside the EU cares what happens to it. Much of the world has been victimized for 400 years by Europe which was always dependent on stealing the resources of others. Now those former victims are not going to be taken advantage of again by Europe and will trade their commodities, innovation, and manufactured products among themselves, since they are 3/4 of the world and now the US empire only rules over Europe, North America Australia, Japan, and New Zealand. Europe is crying now but the rest of the world is cheering.

    • Patrick Starrfish
      Patrick Starrfish 2 months ago +1

      I drove from Brno to Vienna in June. I saw nothing but hundreds of windmills on either side of the motorway after crossing into Austria.
      The EU continues to fail to recognize or mention the need to increase the supply of domestic energy production. Hundreds of Billions have been poured into “green energy” which can not power a first-world nation. No amount of solar or wind will be enough to sustain the EU’s energy needs, and the “energy transition “ is a sham.
      The EU’s anti nuclear stance will drive the continent into poverty. Nuclear is carbon-free and entirely unrelated to nuclear weapons or proliferation. The Fukushima disaster was from a tsunami occurring at a coastal nuclear plant whose backup power generators were placed below sea level. Fukushima was used as an excuse by the European Green Party lobby to accelerate the decommissioning of nuclear reactors in Germany, and prevent construction of new nuclear plants.
      That folly is now being reversed but the EU will experience at least five years of intense economic pain.

    • Jim Bocho
      Jim Bocho 2 months ago

      Is this a joke? US expansionism and EU and UK subservience created this mess in the first place.

    • Leon Leon
      Leon Leon 2 months ago

      Germany, western Europe and Russia were enjoying a very good symbiotic relationship. But Germany and NATO for their own foolish reasoning decided to destroy this relationship. Be careful what you wish for...

  • ZarV
    ZarV 2 months ago +1

    The title should be changed to “How Putin fights Europe back using energy.”

  • Indrid_Cold
    Indrid_Cold 2 months ago

    Europe, and every other nation cutting its energy relationship with Russia need to reopen existing, and commission new nuclear power plants. The fear of nuclear power is far less rational than the fear of Russian nuclear weapons that might be used in war.

  • Ezme Petersen
    Ezme Petersen Month ago +1

    Centrica wanted the UK Government to bankroll the upgrade and improvement of the storage facility they didn't want to pay for. This wasn't a situation that developed overnight but over years, maybe decades. It's not the taxpayers responsibility to bail out private sector companies. It is Governments responsibility to ensure these companies redirect profit to maintenance and investment in infrastructure ahead of bonuses and shareholder dividends. Otherwise the taxpayer investment must be seen as a form of renationalisation and the profits brought into the Treasury for public spending projects. They can't have it both ways.

  • Gold I
    Gold I 2 months ago +1

    We need to become independent from Russian oil and gas.
    You just have to pay 4 or 5 times more for energy independence.
    I don't get it.