Russia uses its gas and energy resources to ‘blackmail’ Europe, says German economy minister

  • Russia exerts its energetic influence to blackmail Europe, Germany“, said Thursday the Minister of Economy, according to the Financial Times.
  • The North stream 1 pipeline back online on Thursday, but at 40% capacity, which is about where it was before its maintenance period.

German Economy Minister and Vice-Chancellor Robert Habeck said Russia was using its influence and resources as an energy producer to blackmail Europe and Germany amid the crisis. oil and gas crisis linked to the war in Ukraine.

“Russia as an energy supplier has become unreliable,” Habeck said Thursday, according to the FinancialTimes. “He uses his great power… to blackmail Europe and Germany.”

His comments follow Russia’s decision to resume gas supplies via Nord Stream 1 on Thursday, although EU officials remain skeptical about how long that supply will last or at what capacity.

President Vladimir Putin has previously warned that pipeline deliveries could be further reduced. Even before Nord Stream 1 was closed for maintenance, flows to Europe were moving at only 60% capacity, with Moscow citing technical issues.

At the time, German officials said Russia was “arming” its energy exports to drive up prices.

Habeck argued Thursday that bringing the key pipeline back online did not eliminate concerns, and noted that only 40% of flows had resumed – which is about the same amount as before the maintenance.

“It is not because 40% of flows have resumed that we should fall asleep in a false sense of security which [supply] will be stable from now on,” Habeck said. “On the contrary, we should expect . . . that they find a reason for . . . interrupt or reduce gas flow again in the future.”

A commodities analyst said Thursday that Putin does not want Europe to build up its gas reserves before winter and instead aims to keep the continent in a state of panic.

The return of Nord Stream 1 flows, although limited, has eased fears that Russia could completely cut off supplies. European Union politicians have already proposed a 15% reduction in gas consumption it could be mandatory.

European benchmark gas prices rose slightly on Thursday after Nord Stream 1 came back online.