Comments by "Far Centrist" (@far_centrist) on "EU ministers fail to agree on gas price cap | DW News" video.

  1. The financial times reported that the EU imports of russian LNG have jumped to 140% after finding out that the US LNG cost 6 times the normal price. Putting a cap on a commodity you need is a good way to cut off supplies completely.
    3
  2.  @Leptospirosi  this is exactly the basis of this price cap idea, which is by grossly overestimating your influence and wealth to buy things as if others wouldn't be able to afford it like you can. But remember that the western bloc only represents 15% of the global population, while the rest of the world covers the remaining 85%. Russia has, on the large part, successfully shifted its gas market eastward, as well as using proxies to sell it to the EU which has worked greatly based on the trade surplus data published by gazprom this year. This means that russia can still freely trade its energy, while the EU has either to buy it at an elevated price from proxies, or not be able to get any if they put a cap on all the buyers. Even the netherlands has refused to sell their gas if the cap is implemented. I'd also like to point out that the EU imports of russian LNG have jumped by 140% this year, proving that it is a commodity it can't make do without. Buying LNG is not a choice for the bloc, it is a necessity.
    1