gray helicopter above body of water

Ukraine Escalation Can Become Painful for Europe

The situation in Ukraine seems to be getting worse, at least that is what we are told by the mainstream media in the West. From the Russian side, one gets the impression that they are more dragged into this conflict than they willingly want to be.

Because the question remains why exactly now Russia should invade Ukraine?

Since there are no exact answers to this question, one or the other may think that the Ukraine crisis is just a next theater piece of the Western powers to draw the attention of the population to it and not to essential domestic issues.

Now the threats of the U.S. in the direction of the Russians range from economic sanctions to the stop of the new gas pipeline Nord Stream 2. Whether the stop of the Nord Stream 2 pipeline is really a threat to Russia or whether actually, Europe is the one who will really suffer from it, none of the Western direction really wants to address.

According to Eurostat, Russia remains the main supplier of energy products to Europe in 2021. But what does Russia supply to Europe?

Natural Gas

Natural gas is one of the most important energy sources for the European economy. In addition, important economies in Europe such as Germany are relying on natural gas in the energy transition. 41.1% of the gas imported into the EU comes from Russia. After that comes, far behind, Norway, which supplies 16.2% of the gas.

Crude Oil

Russia is the main supplier of crude oil to Europe. 26.9% of the crude oil imported into the EU comes from Russia. The OPEC states Iraq with 9%, Nigeria with 7.9%, and Saudi Arabia with 7.7% follow far behind.

Solid Fuels

Russia is also the main supplier of solid fuels, such as thermal coal. 46.7% of solid fuels imported into the EU come from Russia. Far behind, the U.S. with 17.7% and Australia with 13.7%.

What else does Russia export?

Among the largest exports of Russia are wheat, steel, platinum, and aluminum. One should not forget that the world’s largest nickel producer, nickel, comes from Russia. Nornickel produces about 236kt of nickel per year. Nickel is a major element in the production of electric vehicles, which is being promoted mainly in Europe and the U.S. This could have a serious impact on the electric vehicle industry. It is also one reason why nickel prices are currently at levels not seen in over 10 years.

The same applies to aluminum, which is currently trading as high as never before. About 9% of U.S. aluminum imports come from Russia.

The data show that there is a lot at stake in a possible escalation in Ukraine and also that Russian President Putin has correctly said that this war would have no winners.

Additional Articles on the Topic

After Export Ban on Coal, Risk of Disruption of Other Commodity Supply Chain in Indonesia Increases

The U.S. Threatens Russia with Nord Stream 2 Sanctions

Aluminum Prices Surpass 2008 Levels

2 thoughts on “Ukraine Escalation Can Become Painful for Europe”

  1. Pingback: Gold Continues Upward Trend – NATURALDEPOSIT

  2. Pingback: ทองยังคงขึ้นเทรนด์

Leave a Reply