RUSSIA CUTS OFF EUROPEAN GAS SUPPLIES, STARTS SELLING DOLLARS

Russia announcing the cut off of the gas pipelines leading to Europe to 60% is the issue of the moment. few days ago,Putin ordered the cut off of the gas pipelines leading to Europe showing that they are not going to stand idly by while their economy and way of life are destroyed by Western forces.

First, presumably in response to stiff sanctions leveled by the United States and the European Union after the annexation of Crimea last year, Russia has cut off 60% of Europe’s gas supplies right in the middle of winter. This has caused an almost immediate crisis in six European nations that have seen a complete cut-off to their supplies – Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey – with more to follow. According to reports via Zero Hedge, the effect has been almost instantaneous.

Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,” Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis “within hours.” Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply.

Gazprom CEO Alexey Miller later added that Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey; and Russian Energy Minister Alexander Novak stated unequivocally,

“The decision has been made,” Novak said. “We are diversifying and eliminating the risks of unreliable countries that caused problems in past years, including for European consumers.”