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EU energy crisis hitting poorest citizens hardest

By Jerome Hughes | Press TV | October 21, 2021

Brussels – European Commission President, Ursula von der Leyen, warns the EU’s energy crisis is hitting the poorest hardest and businesses are at risk of closing. EU officials say the 27-nation bloc could benefit from Iran’s vast energy reserves if US sanctions against the Islamic Republic are removed.

The weather is becoming more inclement in the EU and while temperatures are dropping, energy costs are soaring. The crisis has just been discussed in the European Parliament.

The main factors driving prices upwards are consumer demand after COVID-19 lockdown restrictions were eased and gas stockpiles were depleted last winter as it was particularly cold. Then we used a lot of electricity during a warmer than usual summer. Half of the gas used in the EU is imported from Russia. We raised the issue of alternative suppliers with the European Commission.

Question: “Is it the case that the EU would like to be getting more energy from Iran?”

The commission says US sanctions are impeding Iranian energy sales but that won’t be a problem if the JCPOA Iran nuclear deal can be brought back on track.

The EU could import liquefied natural gas from various places, such as the United States, but experts say it would not make sense.

Von der Leyen confirmed to the European Parliament on Wednesday that Russia has fully honored its energy contracts with the EU. She says Moscow has so far not increased supply. Energy consultants say the bloc will still need Russia’s gas for at least another 20 years.

While this dependency exists they suggest it would be prudent of the bloc to improve relations with Moscow.

October 22, 2021 - Posted by | Economics, Malthusian Ideology, Phony Scarcity | , , ,

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