It appears that Russia is now cutting off gas supplies to key nations in Europe. This situation could really escalate. This will have a serious impact on supplies of natural gas in Europe. It will most likely escalate the geopolitical tensions in that area as well.
Clearly this is Putin pushing back against the West’s encirclement of Russia. Putin will argue this is justified because Ukraine is siphoning off the Gazprom gas. He is justified in making that claim because there is a long history of Ukraine stealing Russian gas.
So it’s a bit of a complex web but this is the type of event that will have a major impact not just on the economies of Europe, who have enough problems already, but more importantly on geopolitical stability.
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