Failure of sanctions - European energy crisis - currency and economic crisis - winter 2022

[Cognitive Dissident]

This is a huge subject and I think deserves a specific thread to try and pull it all together. Not about the Russia-Ukraine war itself, but the effects of the war, the sanctions and their failure - and the entirely predictable consequences - and also some unpredictable ones.

The short story: the sanctions on Russia have failed and the consequences are to damage the EU and the UK far more than expected.

https://www.zerohedge.com/crypto/ene...n-can-solve-it

Energy prices have gone sky high - but this is only the beginning. They will get worse in the winter when demand peaks. And even now EU and UK governments must borrow vast amounts of money to in effect subsidise energy prices. Talk of "price caps" does not work in reality, it is all smoke and mirrors which does not change the basic lack of supply of gas.

This will have the effect of driving up inflation and driving down the value of Euro and Sterling. Leading to more expensive imports and - more inflation. Businesses across Europe will shut down because of expensive energy and the economy will be severely damaged. Leading to recession (and weaker currencies - more inflation again). Possibly a depression.

The simple solution is to drop sanctions but that is impossible politically because it shows "Putin has won". Instead the population and the economy will be sacrificed. Perhaps the new Italian government will break ranks and this will change policy.

But equally likely is economic disaster and potentially an end to the Euro itself, which is already fatally flawed as shown by the Target 2 balances (an IOU from Italy, Spain, etc, to Germany which can NEVER be repaid)...

In short, winter 2022 is crunch time. The European population (including the UK) has only a vague idea of the level of economic pain that is approaching. The media is not explaining the root causes and problems. The politicians are gaslighting and making the situation worse. It is very messy and - unfortunately - is likely to get worse.

I know that many in the alternative media have predicted disaster which didn't happen. Whether it will be disaster or not, is hard to say. But it will be very bad, unless things change extremely soon. In other words, this time is different.

Much more to say but getting this out there to hear people's views.

[Bill Ryan]

Thanks for the new standalone thread. I do think it's very helpful.

There's been lots about this elsewhere so far, and below is a list of threads which have included ongoing information and opinion (and reaction!) about the whole catastrophic self-destructive sanctions issue.

• Inflation: How Much Did You Spend?
• Turmoil and Chaos all over the Planet
• Turmoil in the UK
• WW3? Ukraine/US vs. Donbass/Russia
• Ça Chauffe!
• The planned takedown of America: now in full swing
• Upcoming cost of home energy bills
• Global Shortages of Everything
• Manufactured Food Shortages (Eradication of Our Food Supply)
• The Controlled Demolition of the Economy
• Food shortages are unavoidable now
• Ukraine, Crimea, Syria, Israel, Iran, Putin, China, and World War III

[Eva2]

'Prison For Heating Homes Just DECLARED!
73,897 viewsSep 8, 2022'

(Switzerland)

Source: https://youtube.com/watch?v=iLiJsRuiNMI

Source: https://youtube.com/watch?v=LWTRxCV6cRc

[norman]

Posted by Cognitive Dissident (here)

Much more to say but getting this out there to hear people's views.

In some form or another 'we' have to go for their jugular right now ( in the next couple of months ). That could be physically or energetically or both, but freezing in headlight dazzled deer mode won't cut it.

To get us into action on any of those fronts we must snap out of controlled opposition mentality where they are very content to keep us. Even the SPARS document had that base covered.

[Brigantia]

I can't help but think that the timing of the death of Britain's monarch is convenient; the unions have postponed imminent strike action over pay and reportage of turmoil over the cost of living has disappeared from the front pages. All it will serve though is to push all that unrest into the future.

[Cognitive Dissident]

Thanks everyone for the responses. I put this thread in geopolitics not conspiracy because no speculation about the hidden agendas is necessary (although it is always relevant). This is all about looking at the situation from a very realistic perspective and scenario planning for likely outcomes. Things seem to be accelerating, certainly faster than I expected.

The point I am trying to make is that this winter is crucial - the situation is reaching boiling point (or should I say freezing point). We are so used to being able to see how disastrous the global situation is, it may be difficult for us to see that this awareness is now reaching the whole population, even more than the financial crisis of 2008/9.

This crisis is about energy, economic crisis, inflation, supply shortages and as Bill noted in some of those links - food shortages. Which, historically, have been the catalyst for revolution. This affects the whole world but the immediate effects are more being felt in the UK and EU rather than America (that will come later).

Add to that, the growing awareness that we have been lied to about COVID, everything from the lab origin, the ineffectiveness of masks, lockdowns and the vaccine, and the side effects - the "excess deaths" are becoming impossible to ignore, as are the healthy young people and athletes who "die suddenly"... the reckoning on this, when people understand what has been done to them, will be biblical.

This is all making me think that the PTB are going to need some major distractions over the next few months. King Charles is insufficient for that purpose. Some sort of limited ET disclosure? John Podesta announcing we have mastered LENR technology and now have free energy (which is Garry Nolan speculated on Twitter - he specifically mentioned Podesta and LENR)? Or some false flag, perhaps involving the Russians and cyberwar. Interesting times, as they say.

[Bill Ryan]

There's such a lot of news, literally every day, that's it's very hard to (a) keep up with it all or (b) know which developments are the most significant. But there's chaos (and recrimination) everywhere.

Here are two relatively small examples:

• https://rt.com/russia/562477-moldova...rewood-website

Minister resigns after failing to reach firewood deadline

Moldovan official botched website for the sale of winter fuel

Moldova’s environment minister has resigned a day after the prime minister criticized her for not meeting a launch deadline for a website that should help people buy firewood for winter heating.

Iuliana Cantaragiu stepped down from her position on Thursday. In a statement on Facebook, she touted her record of reforms in the Environment Ministry and thanked people she worked with for their service. Prime Minister Natalia Gavrilita accepted her resignation.

The prime minister criticized Cantaragiu during a government meeting on her failure to launch a service to help Moldovans buy firewood for the winter season. The web portal lemne.md and a phone hotline were supposed to be launched on September 1.

Cantaragiu blamed unidentified “partners” involved in the development of the website for the delay and said it would be ready in two weeks. The prime minister observed that by that time the service would not be necessary.

“Things must be done on time so that the information is useful. A volunteer could create the website in a day,” Gavrilita noted, as quoted by the local media.

The minister was asked about the exchange during a press conference on the same day, with the media speculating that her resignation was looming. She said that falling behind the deadline was “absolutely normal” because “there are things outside of our control.”

In early August, the national forestry agency Moldsilva warned that Moldova could face a shortage of firewood due to increased demand amid the global energy crisis. The Environment Ministry said the portal would help prevent price gouging.

The proposal exposed the government to some mockery from citizens, who wondered if creating a website, the name of which means 'firewood' in Moldovan, was the best use of public funds.

~~~

• https://rt.com/business/562577-europ...crisis-kneissl

Europe to blame for electricity crisis – former Austrian FM

Karin Kneissl says the European energy market works “by some incomprehensible principles”

The crisis affecting the electric power industry across Europe started in 2021 and was caused by European policymakers themselves, according to former Austrian foreign minister Karin Kneissl.

“We had a crisis in the electric power industry even before the gas crisis began,” she said on Saturday in an interview with Russian news agency TASS.

“That’s the result of the liberalization of the past 15-18 years, and we have been going through this since April 2021, for more than a year so far,” Kneissl added.

According to the former foreign minister, the electricity market in Europe is not a classic supply-and-demand market anymore, and is now operating “in accordance with some incomprehensible principles.”

She added that the market had been redirected with a preference for renewable energy, and had turned into a unbalanced one as a result.

“The electricity market, despite the role of renewable energy sources, is still highly dependent on gas prices, even when more electricity is generated from renewable sources,” Kneissl said.

The former minister stressed that prices for electricity in the region saw a surge of up to 40% after April 2021, and have now soared nearly 400%, inevitably dragging households’ finances down.

“For manufacturers, for the industrial sector, the situation is even worse. There’s already a movement in the UK – it’s not [part of] the EU, but it might spread further – where people are simply boycotting their electricity bills,” she said, noting that the electricity crisis had begun prior to the gas crunch.

Kneissl attributed the crisis to the significant reduction in investment in oil and gas projects, explaining that supply was declining while demand remained.

“The demand has been growing after the pandemic. It was quite calm during the pandemic for a year and a half,” she said.

“And we can still be glad that in China demand remains at a fairly low level, since they are introducing quite a lot of lockdowns,” Kneissl added.

~~~

• https://rt.com/news/562534-hungary-ukraine-eu-czech

Hungary on ‘edge of abyss’ in EU — Czech minister

Budapest could theoretically end up quitting the bloc, Prague’s European affairs minister warns

Hungary’ stance on Russia and the conflict in Ukraine could potentially see it exiting the EU, the Czech European affairs minister has warned.

The EU is “a unity of many voices” that always finds common ground despite any disputes, Mikulas Bek told Cesky Rozhlas Plus radio on Thursday.

“Negotiations are often tough in the EU, and many countries could engage in them. But Hungary, in my opinion, has come a long way, reaching the edge an abyss, and now it has to decide whether to go back from that edge or risk a jump, the consequences of which I don’t even want to speculate on,” the minister said.

On the prospects of Budapest leaving the EU altogether, Bek said it’s theoretically possible.

Budapest has remained relatively neutral since the launch of Moscow’s military operation in Ukraine in late February, and refused to send weapons to Kiev unlike many of its neighbors. It has been critical of the EU sanctions against Russia, calling them ill-conceived and self-defeating. Hungary, which is heavily dependent on Russian energy, is exempt from the bloc-wide ban on Russian oil.

The Czech European affairs minister, whose country currently presides over the EU Council, pledged to work hard in the coming months to make sure Hungary stays in line with European policies.

“A small positive sign” was that Budapest backed down on its demand to remove three prominent Russia businessmen – Alisher Usmanov, Pyotr Aven and Viktor Rashnikov – from EU sanctions earlier this week, Mikulas Bek added.

~~~

• https://rt.com/business/562542-us-gu...oil-price-cap/

US threatens to sanction buyers of Russian oil

Washington has published guidance on a proposed price cap, but its level remains unknown

US companies will be allowed to buy seaborne Russian oil if they adhere to a price ceiling agreed by allied countries, the US Treasury’s Office of Foreign Assets Control (OFAC) said in preliminary guidance published on Friday.

According to the document, the US will ban “services related to the maritime transportation of… seaborne Russian oil” from December 5, and services related to petroleum products from February 5, 2023.

The ban will not apply to buying Russian fuel at or below a price cap which will be established by the “coalition of countries including the G7 and the EU.” If the rule is followed, services such as insurance and refueling can be provided to ships.

Importers or refiners who wish to purchase Russian oil below the price cap will have to provide transport service providers with documents proving compliance.

Buyers who pay more than the cap or knowingly provide false information will face legal probes and potential fines.

The document gives no indication of the price ceiling level, but says additional guidance will be issued after consultations with the other countries involved.

The Group of Seven countries (US, Canada, UK, France, Germany, Italy and Japan) agreed to impose a price limit on Russian oil in early September. The stated goal is to reduce Russia's ability to finance military action in Ukraine, while also easing the situation on the global oil market.

Russian Deputy Prime Minister Alexander Novak recently called the price cap a “complete absurdity” and warned that Russia could stop supplying oil to countries that support the scheme.

[Bassplayer1]

Posted by Brigantia (here)
I can't help but think that the timing of the death of Britain's monarch is convenient; the unions have postponed imminent strike action over pay and reportage of turmoil over the cost of living has disappeared from the front pages. All it will serve though is to push all that unrest into the future.

Absolutely Brigantia. It feels like its a massive, deliberate hijacking of what little energy is left in people after the virus, Ukraine etc. Its a constant assault from all angles and the population isn't given any time to catch our breath before the next 'trauma' and crisis. It's relentless at a breakneck speed not experienced before. Its like an orchestrated push to lower the frequency even further so people won't stand together and rise up against this. The life force will have been leeched out of them. Higher frequencies make it difficult for the lower frequencies to function. Keeping people frightened and crying is hindering this process.

It's been a few years since I read Cathy O Brien's Tranceformation book but I think it in there she explains what happens in the brain under constant trauma and confusion and the programming that can take place as a result. I can't help but feel that many of the alternative channels and 'truthers' are part of all this too. So much of it doesn't feel right anymore and I'm prepared to admit that I've been had by some of them over the years.

I think if we each do our best to look after our nearest and dearest is a good starting point. Keep an eye on where our energy is going and looking out for the energy of our loved ones.

[Bubu]

Posted by Cognitive Dissident (here)
This is a huge subject and I think deserves a specific thread to try and pull it all together. Not about the Russia-Ukraine war itself, but the effects of the war, the sanctions and their failure - and the entirely predictable consequences - and also some unpredictable ones.

The short story: the sanctions on Russia have failed and the consequences are to damage the EU and the UK far more than expected.

https://www.zerohedge.com/crypto/ene...n-can-solve-it

Energy prices have gone sky high - but this is only the beginning. They will get worse in the winter when demand peaks. And even now EU and UK governments must borrow vast amounts of money to in effect subsidise energy prices. Talk of "price caps" does not work in reality, it is all smoke and mirrors which does not change the basic lack of supply of gas.

This will have the effect of driving up inflation and driving down the value of Euro and Sterling. Leading to more expensive imports and - more inflation. Businesses across Europe will shut down because of expensive energy and the economy will be severely damaged. Leading to recession (and weaker currencies - more inflation again). Possibly a depression.

The simple solution is to drop sanctions but that is impossible politically because it shows "Putin has won". Instead the population and the economy will be sacrificed. Perhaps the new Italian government will break ranks and this will change policy.

But equally likely is economic disaster and potentially an end to the Euro itself, which is already fatally flawed as shown by the Target 2 balances (an IOU from Italy, Spain, etc, to Germany which can NEVER be repaid)...

In short, winter 2022 is crunch time. The European population (including the UK) has only a vague idea of the level of economic pain that is approaching. The media is not explaining the root causes and problems. The politicians are gaslighting and making the situation worse. It is very messy and - unfortunately - is likely to get worse.

I know that many in the alternative media have predicted disaster which didn't happen. Whether it will be disaster or not, is hard to say. But it will be very bad, unless things change extremely soon. In other words, this time is different.

Much more to say but getting this out there to hear people's views.

Nah, if you light up your butt it gonna counter some of theeeee winteeeer cold or maybe bring about some excitement

¤=[Post Update]=¤

Posted by Bassplayer1 (here)

Posted by Brigantia (here)
I can't help but think that the timing of the death of Britain's monarch is convenient; the unions have postponed imminent strike action over pay and reportage of turmoil over the cost of living has disappeared from the front pages. All it will serve though is to push all that unrest into the future.

Absolutely Brigantia. It feels like its a massive, deliberate hijacking of what little energy is left in people after the virus, Ukraine etc. Its a constant assault from all angles and the population isn't given any time to catch our breath before the next 'trauma' and crisis. It's relentless at a breakneck speed not experienced before. Its like an orchestrated push to lower the frequency even further so people won't stand together and rise up against this. The life force will have been leeched out of them. Higher frequencies make it difficult for the lower frequencies to function. Keeping people frightened and crying is hindering this process.

It's been a few years since I read Cathy O Brien's Tranceformation book but I think it in there she explains what happens in the brain under constant trauma and confusion and the programming that can take place as a result. I can't help but feel that many of the alternative channels and 'truthers' are part of all this too. So much of it doesn't feel right anymore and I'm prepared to admit that I've been had by some of them over the years.

I think if we each do our best to look after our nearest and dearest is a good starting point. Keep an eye on where our energy is going and looking out for the energy of our loved ones.

you hit the nail in the head my friend.

[ExomatrixTV]

• Russia Is Winning A Financial War 🇷🇺 James Rickards:

Source: https://youtube.com/watch?v=nDXgeApgqWI

[Bill Ryan]

This tweet was dated 30 June:

https://twitter.com/vonderleyen/stat...59370633584640

As of today, Ukraine's electricity grid has been largely taken out. (See the several reports on page 245 of the Ukraine thread.) Unfortunately for the citizens of the EU, this will add to their woes — and to their very heavy costs.

[Cognitive Dissident]

It's important to understand the global context here: not only is Europe falling apart, so too is Japan. Here's the key quote: The great currency wars have begun. There is only way that this ends, which is that every country HAS TO join the currency wars, otherwise their currency gets out of line with all the others - and that ends with global inflation. From a conventional perspective: really not good, and will be very painful for ordinary people on fixed salaries.

I suspect that the PTB are very aware of all this, and will use this crisis as an opportunity for the next crack down. Can't suggest much more than have some supplies at hand, and don't make any big financial commitments over the next few months...

https://www.zerohedge.com/news/2022-...wave-inflation

"Japan just hit the “panic” button regarding inflation.

Over the last few two years, the Japanese Yen has imploded as the country’s central bank continued to print money. In contrast, the central banks in both Europe and the U.S. are tightening. As a result of this difference in policy (EU and US tightening, Japan still easing) Japan’s currency has collapsed to a 24 year low.

And so, on Friday, the country’s central bank, the Bank of Japan (BoJ), announced it will begin intervening in the currency markets to support the yen.

What does this mean?

The great currency wars have begun. We have reached the point at which major central banks will begin intervening directly in the currency markets to fight inflation. And ironically, this in turn is only going to unleash MORE inflation.

Why?

Because the only way for a central bank to intervene in the currency markets is to print more money! Indeed, if the policy response from the pandemic has taught us one thing, it’s that printing money is all policymakers know how to do!"

https://www.reuters.com/article/japa...-idUSL4N30H04W

And yet: "The yen may be near 24-year lows, but Japan’s central bank is not even close to trying to support it with higher interest rates.

The government - especially the Ministry of Finance (MOF) - has repeatedly and strongly expressed dissatisfaction with this year’s falls in the yen, which on Sept. 7 dropped as far as 144.990 per dollar, down 30% since the end of 2021.

But the central bank is independent and by law obliged to attend to inflation and the state of the economy, not the exchange rate.

Its support for the weak economy with ultra-low interest rates is the main factor behind the yen’s weakness, since other central banks, notably the U.S. Federal Reserve, are briskly tightening monetary policy, making their currencies more attractive as destinations for capital.

The BOJ has no intention of raising interest rates or tweaking its dovish policy guidance to prop up the yen, the sources said."

Amazing as it sounds, even a country as powerful as Japan is completely stuck. They are in a dead end, and have been for a while, but now the cracks are really starting to show.

[norman]

I distinctly remember Pastor Lindsey Williams ( the guy who had contacts in the big oil top brass ) tell us that when currency wars break out we'll know the last card has been played for the new world order endgame.

[Cognitive Dissident]

The crisis continues to unfold. It is not only the inflation which is hitting people and businesses, but the energy sector itself which is going bust - one of the largest German energy companies will be taken over by the government in order to save it. Of course, that will require more money to be borrowed which will make the situation worse in the longer term.

https://www.zerohedge.com/commoditie...crisis-worsens

"Uniper needs additional support from the German government after tapping into rescue packages worth as much as 20 billion euros ($20 billion), according to one source. Soaring NatGas prices and Russian energy giant Gazprom's supply cuts via the Nord Stream 1 to Europe have led Uniper to millions of euros per day in losses, which Berlin's first rescue package for a 30% stake in the utility was in July.

Another person who asked not to be identified because rescue talks are behind closed doors said Chancellor Olaf Scholz's administration is preparing to inject billions of euros into the faltering utility that will raise the government's stake over the 50% threshold.

"Nationalisation is the only solution left, Uniper's capital resources are totally under water. Mathematically speaking, there is nothing else that could be done," a source close to the matter told Reuters."

More details on the economic mess: https://www.zerohedge.com/markets/eu...ing-suspending

Although in a small sign of some realism, the EU has realised that they do not have the ability to actually "cap" the price of Russian gas, and attempting to do so would be disastrous: https://www.theguardian.com/business...of-russian-gas

Don't be fooled by the recent "victory" of the Ukrainian Army. The situation in Europe is getting worse, and winter hasn't even started yet.

[norman]

Audio Podcast
Economist Tuomas Malinen warns the world about the economic implosion of Europe


Brighteon Video
https://www.brighteon.com/28c1af7f-e...7-2d7bc7178fa0

[Gwin Ru]

...

... Shocking document: How the US planned the war and energy crisis in Europe

Markus Andersson
1 dag ago

Foto: Nato/CC BY-NC-ND 2.0

As the first outlet in Europe, Nya Dagbladet can publish what appears to be classified US plans to crush the European economy by means of a war in Ukraine and an induced energy crisis.

RAND Corporation’s think tank, which has a huge work force of 1,850 employees and a budget of $350 million, has the official aim of “improving policies and decision-making through research and analysis”. It is primarily connected to the United States Department of Defence and is infamous for having been influential in the development of military and other strategies during the Cold War.

A document signed RAND, under the opening heading of “Weakening Germany, strengthening the U.S.”, suggests that there is an “urgent need” for an influx of resources from outside to maintain the overall American economy, but “especially the banking system”.

“Only European countries bound by EU and NATO commitments can provide us with these without significant military and political costs for us.”

According to RAND, the main obstacle to this ambition is the growing independence of Germany. Among other things, it points out that Brexit has given Germany greater independence and made it more difficult for the United States to influence the decisions of European governments.

A key objective that permeates this cynical strategy is, in particular, to destroy the cooperation between Germany and Russia, as well as France, which is seen as the greatest economic and political threat to the United States.

”If implemented, this scenario will eventually turn Europe into not only an economic, but also a political competitor to the United States.”, it declares.

The only way: “Draw both sides into war with Ukraine”
In order to crush this political threat, a strategic plan, primarily focused on destroying the German economy, is presented.

“Stopping Russian deliveries could create a systematic crisis that would be devastating for the German economy and indirectly for the European Union as a whole”, it states, and believes that the key is to draw the European countries into war.

“The only possible way to ensure that Germany rejects Russian energy supplies is to draw both sides into the military conflict in Ukraine. Our continued actions in this country will inevitably lead to a military response from Russia. Russia is clearly not going to leave to the massive Ukrainian army’s pressure on the Donetsk People’s Republic without a military response. This would make it possible to portray Russia as the aggressive party and then implement the entire package of sanctions, which has already been drawn up”.

Green parties will force Germany to “fall into the trap”
The green parties in Europe are described as being particularly easy to manipulate into running the errands of American imperialism.

“The prerequisite for Germany to fall into this trap is the dominant role of green parties and European ideologies. The German environmental movement is a highly dogmatic, if not fanatical, movement, which makes it quite easy to get them to ignore economic arguments”, it writes, citing the current foreign minister of Germany, Annalena Baerbock, and the climate minister, Robert Habeck, as examples of this type of politician.

“Personal characteristics and lack of professionalism make it possible to assume that it is impossible for them to recognise their own mistakes in time. I will therefore be sufficient to rapidly form a media image of Putin’s aggressive war – and make the Greens into ardent and tough supporters of sanctions – a ‘war party’. This will make it possible to impose the sanctions without any obstacles”.

Baerbock is, i.a., well known for declaring that she will continue the suspension of Russian gas even during the winter – regardless of what her constituents think about the matter and the consequences for the German population.

– We will stand with Ukraine, and this means that the sanctions will stay, also in winter time – even if it gets really tough for politicians, she said at a conference in Prague recently.

Green Party politicians Annalena Baerbock (left) and Robert Habeck (right) are described by the United Sates as being grateful for being manipulated into running errands for the United States – in particular the goal of destroying the German economy. (Photo: Vorderstraße/WEF/CC BY 2.0)

“Ideally – a complete halt of supplies”

The authors express a hope that the damage between Germany and Russia will be so great that it will make it impossible for the countries to re-establish normal relations later on.

“A reduction in Russian energy supplies – ideally, a complete halt of such supplies– would lead to disastrous outcomes for German industry. The need to divert significant amounts of Russian gas for winter heating will further exacerbate the shortages. Lockdowns in industrial enterprises would cause shortages of components and spare parts for manufacturing, a breakdown of logistics chains and, eventually, a domino effect”.

Ultimately, a total collapse of the economy in Europe is seen as both probable and desirable.

“Not only will it deliver a devastating blow to the German economy, the entire economy of the entire EU economy will inevitably collapse.”

It further points out that the benefits of US-based companies having less competition on the world market, logistical advantages and the outflow of capital from Europe, would mean that they would be able to contribute to the economy of the United States by an estimated 7-9 trillion dollars. In addition, it also emphasises the important effect of many well-educated and young Europeans being be forced to immigrate to the USA.

RAND denies originating the report
RAND Corporation issued a press release on Wednesday denying that the report originates from them. No comments are made regarding what parts of the report are false or what is accurate, apart from simply writing that the content is “bizarre” and that the document is “fake””.

[Spiral]

No wonder the EU is shutting Hungary out...

[Gwin Ru]

...

... from Jim Stone:

Putin is a master troll:

"If you want the gas to flow, all you have to do is push one button"

From Pravda:

If European countries want to cope with the energy crisis, then they should lift sanctions from the Russian Nord Stream 2 gas pipeline, Vladimir Putin believes.

Russia is not the cause of the energy crisis in Europe. In order to overcome it, European countries can, in particular, lift sanctions from the Nord Stream 2 gas pipeline, President Vladimir Putin said at a press conference following the SCO summit.

"In the end, if it gets too hard, if everything gets so difficult, go and lift the sanctions from Nord Stream 2. Fifty-five billion cubic meters per year - just press the button, and it will flow," the Russian president said.

"The energy crisis in Europe did not begin with the start of the special military operation in Ukraine. It started with the green agenda," Putin said.

[Jim's] comment; Even if it is just theater, Putin is stating the facts. Europe is causing the gas crisis, not Russia. It is not a good idea to "fight a war" against Russia by putting in place sanctions that will cause Russia to play it's hand. Europe will suffer more from the sanctions than Russia will.

====================================================

"The energy crisis in Europe did not begin with the start of the special military operation in Ukraine. It started with the green agenda," Putin said.

... squarely nailed on the head!

[Gwin Ru]

...

... Energy giant explains why France faces power shortage

RT
Sat, 17 Sep 2022 06:41 UTC

Energy giant EDF expects lower electricity production this year. © Getty Images / Jean-Marie HOSATT

French state energy firm EDF said this week that it expects much lower electricity production due to maintenance of nuclear reactors this year, which will cost the company approximately $29 billion in pretax earnings.

According to a company statement, 26 of EDF's 56 nuclear reactors are currently offline, partly due to corrosion issues. The firm, the world's largest operator of nuclear plants, estimates it will produce "on the low end of a range between 280-300 terawatt-hours" of electricity from its operating nuclear plants this year, which is a 30-year low for French nuclear power output.

EDF executive director Cedric Lewandowski told lawmakers this week that five reactors are to restart in September, and the rest are expected to gradually go online by February. However, the company still forecasts its nuclear output to be below 2021 levels (360 terawatt-hours) in both 2023 and 2024.

EDF is currently in the process of being fully nationalized. The French government, which already owns 84% of the company's shares, made an offer of €9.7 billion ($9.7 billion) to nationalize the power provider in July to save it from mounting debt.

According to reports, EDF could owe over €60 billion by the end of the year.

SOTT Comment:
It's rather amazing that, despite having abundant nuclear power plants, France will be experiencing power shortages at the same time as the rest of the EU due to 'maintenance issues.' It's almost as if this was timed.

Related:

• France makes grim prediction about rising European energy prices

• France closes dozens of pools over soaring energy costs

• Macron warns France of 'a new era of sacrifices and the end of abundance'

• EU has 'obvious solution' to solve energy crisis - Gazprom

• EU has run out of energy, Hungary will not - Orban

• Germany's Energy Suicide: An Autopsy