Gas Market Abuse, Putin & the EU…

The news this morning had two interesting parts:

  1. President Putin denies jacking up the price of gas which he stated was “politically motivated blather” and he also said that “We’re increasing (gas supplies) as much as our partners ask. There hasn’t been a single refusal. Not one,”
  2. The EU is launching an investigation into possible “manipulative practices or abuses” by companies producing and supplying natural gas to Europe. Russia happens to be the largest supplier alongside Norway (once called the last Soviet State, but that was a long time ago…)

Russia has a virtual monopoly on gas supplies and Nord Stream 2 is increasing Europe’s dependence on Russian gas. We can thank Merkel for closing German nuclear plants for this state of affairs alongside the rather surprising love affair with Russian gas supplier Gazprom.

There is little point in believing any public statements by Russia – we all know that democracy is presently not at the top of their agenda and that Putin is fighting for support while standing on a very slippery slope well-greased by oil and grit from his corrupt administration.

One can only be patient, hope for the best, and wait for his eventual fall from grace as he reaches the limits of absolute. Russia has a wonderful downtrodden population and a great cultural heritage that will be revived one day.

The wait can take time but as the Chinese say:羊补牢,为时未晚。wáng yáng bǔ láo, wéi shí weì wǎnNever too old to learn or never too late to turn.

Your correspondent has spent the last eight long years trying to learn and write Mandarin – it is slowly beginning to pay off! Naturally, the same “hope” applies to China as well…

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