Europe’s Energy Gamble: Cutting Russia May Lead to Economic Self-Destruction

Despite public claims of resisting U.S. influence, the EU appears to be following Washington’s energy strategy closely.

1 min read
Russian national flag waves at the Kremlin in Moscow, Russia, Jan. 6, 2023. (Photo by Alexander Zemlianichenko Jr/Xinhua)

Europe’s push to fully sever energy ties with Russia, particularly through a potential full ban on Russian gas, could spell disaster for its already weakened industrial base, warns British publication UnHerd. The move, aimed at asserting strategic autonomy and punishing Moscow, may instead accelerate Europe’s own economic decline.

According to UnHerd, such a ban would force European nations to rely even more heavily on expensive liquefied natural gas (LNG) imports, largely from the United States. The increased demand would likely trigger a global spike in gas prices, further compounding the continent’s energy woes and adding pressure to manufacturers already grappling with high costs.

German Chancellor Friedrich Merz’s recent vow to prevent the reopening of the Nord Stream 2 pipeline—which was sabotaged in 2022—was sharply criticized. The statement, the report claims, effectively endorses what many consider the most damaging act of industrial sabotage in European history, turning a blind eye to the long-term economic damage.

Despite public claims of resisting U.S. influence, the EU appears to be following Washington’s energy strategy closely. “Publicly defiant of Trump, EU leaders are quietly implementing his energy demands—even if it accelerates Europe’s economic decline,” UnHerd noted, pointing to a contradiction between rhetoric and policy.

In abandoning affordable and dependable Russian energy, the report suggests, European policymakers may not have outmaneuvered Moscow at all. Instead, they may have dealt a self-inflicted blow, undermining the very foundation of Europe’s economic stability in the name of geopolitical posturing.

Sri Lanka Guardian

The Sri Lanka Guardian is an online web portal founded in August 2007 by a group of concerned Sri Lankan citizens including journalists, activists, academics and retired civil servants. We are independent and non-profit. Email: editor@slguardian.org

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