Vladimir Putin's stranglehold on Europe's energy markets
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
You are now subscribed
Your newsletter sign-up was successful
Yesterday, I suggested that the best way to undermine Putin's regime and his ability to project power into Europe is for America to develop the infrastructure to sell natural gas cheaply to Europe.
Now, here is some data to show just how strong a stranglehold Gazprom, the state-owned Russian gas company, has on European energy markets:
This position — in which Putin can turn off the gas in the middle of winter, and plunge countries into an energy crisis — has given him the ability to strong-arm European countries into accepting Russian foreign policy. This position of strength has blunted the European response to Russian soldiers taking over Crimea.
Article continues belowThe Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
By providing competition to Gazprom, America can give European countries more leverage in negotiations with Putin, and more ability to sanction Russian incursions into Eastern Europe.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.