JRL NEWSWATCH: “Russia’s Energy Clout Is Waning, Weakening Its Global Influence” – WSJ

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“The rebalancing is stoking Moscow’s fear of becoming a junior partner to Beijing.”

“… Putin‘s use of energy as a weapon of financial war is increasingly backfiring, threatening the core of Russia’s beleaguered economy and curtailing its geopolitical influence. Western sanctions, falling prices for Russian fossil fuels and strategic miscalculations are hurting the country’s oil-and-gas industry while the war in Ukraine is poised to stretch into a second year. Ultimately, the strain [reportedly] will erode Moscow’s status as an energy superpower …. * * * Moscow’s big hope is to peddle its energy to China. But while Beijing has increased its oil-and-gas purchases from Russia … its oil imports have recently stagnated, and Russia’s pipeline gas exports to China are less than a 10th of what it used to export to Europe …. Beijing has yet to agree to a second [Russian] pipeline ….”

Click here for: “Russia’s Energy Clout Is Waning, Weakening Its Global Influence; The rebalancing is stoking Moscow’s fear of becoming a junior partner to Beijing” – Wall Street Journal/ Georgi Kantchev, Joe Wallace



 

 

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