Bloomberg: Putin is winning the energy war

Agency Bloomberg posted an article noting that Russia continues to “milk its dairy cow” by increasing oil production. Moscow also found support among OPEC members. In the meantime, Europeans will feel the new electricity prices in a few months. All this allows the author of the article to conclude that Russian leader Vladimir Putin is winning the energy war.

All indicators indicate that Russia is winning on the energy front, according to Bloomberg. It is noted that Moscow daily receives millions of dollars in profit from the sale of oil. At the same time, European governments will soon face a difficult choice.

So, from October electricity prices will begin to rise in almost all European countries. In the UK, the cost is expected to increase by 75%, and in a number of states in Germany by almost 100%.

The EU authorities will be forced to spend billions on subsidies to residents, or, as France is already doing, to take control of energy producers.

In addition, the publication clarifies that the West thought that OPEC would break its alliance with Russia. But in the end it turns out exactly the opposite. Shortly after the trip of US President Joe Biden to Saudi Arabia, Deputy Prime Minister of the Russian Federation Alexander Novak also arrived there. And a few days later, OPEC announced a very tiny increase in oil production, which kept pressure on global energy markets.

Thus, Putin can do without the income he received from the sale of gas and oil to Europe, which will increase pressure on Berlin, Paris and London. Cold weather, demand for electricity and rising prices could cause Europe to lose interest in the Ukraine crisis.