Ilya Zaslavskiy is a senior campaigner at Razom We Stand.
Because of the full-scale war against Ukraine , the EU is now actively seeking to reduce its reliance on Russia n LNG suppliers, including Novatek. However, some vested corporations with continued interests in doing LNG business with Russia propel the scare that supposedly China can save Novatek from US/EU sanctions if the Western export route for Russia n LNG is closed. This is categorically false and misleading for several economic and political reasons.
Which brings us to the point that not only China is skillfully using the market environment to its advantage, it is also carefully weighing its political and security needs which leave Novatek and Russians in general in a poor negotiating position. Unlike Europe, which was historically a seller’s market, keeping the upper hand and commercial rationale in negotiations is always following first and foremost Communist Party's line.
European Union Fossil Fuels Razom We Stand Renewable Energy Russia Ukraine Ukraine War Lng
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