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2022 - 23 RUSSIAN
EUROPEAN GAS
CRISIS
BY
PREM M
SABARIVASAN K N
ROVIN ABEL D
• The European Union
(EU) is a political and
economic union of 27
member states that are
located primarily in
Europe
• As of 2020 European
Union had 5.8 per cent
of the world population
containing 18 per cent
of world's gdp
Aim of
european
union
To create political and economic integration by
creating
• COMMON CURRENCY
• A UNIFIED FOREIGN AND SECURITY POLICY
• COMMON CITIZENSHIP RIGHTS
Member states
The European
Union (EU) has 27
member states:
Austria Belgium Bulgaria Croatia Cyprus Czech
RepublicDenmark Estonia Finland France Germany Greece Hungary
Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands
Poland Portugal Romania Slovakia Slovenia Spain Sweden
WHY?
• 1 VS BIG MARKET
• ECONOMIC
BULLY
• UNITED WE
STAND
• UNSCATTERED
POPULATION
• NO CURRENCY
EXCHANGE
• SAME MARKETS
On 24 February 2022, Russia invaded Ukraine
RUSSIA - UKRAINE WAR
On 24 February 2022, Russia invaded Ukraine
The EU had imposed
massive and
unprecedented sanctions
against Russia in response
to the war of aggression
against Ukraine
Sanctions by EU
Sanctions on Russia consists of
travel bans and asset freezes
• Travel bans prevent listed
individuals from entering or
transiting through EU territory, by
either land, air or sea.
• Asset freezes mean that all
accounts belonging to the listed
persons and entities in EU banks
are frozen.
Response of
Russia
• The Russia–EU gas dispute
flared up in March 2022.
• In June, Russia cut the flow of
gas by more than half.
• In July it stopped and resumed
it
• In September it stopped it
altogether.
Around a Quarter of Europe’s energy came from gas in 2020, more than nuclear, hydro, wind and solar combined
• Russia provided roughly
40 per cent of all
imported gas to the EU
prior to the invasion,
says the EUROPEAN
COMMISSION.
Nord Stream 1 is a 1,224 km underwater gas pipeline running
from Vyborg in northwest Russia to Lubmin in northeastern
Germany via the Baltic Sea. It was completed in 2011.
PROTESTS IN
GERMANY
Subsidies and Why it is needed
• Germany’s parliament voted to adopt the government’s proposal for a
€200 billion gas price relief fund
• Govt will bear the cost either directly or indirectly
• Loans to power companies
• Cost of power bills partly borne by the citizens and partly by the
government
Possibilities :
• Other countries will also try to
subsidize energy bills
• If there is inflation there will be
public disapproval and protests
and eventually a change in power
• Other countries can impose strict
import duty which goes against
the spirit of formation of EU
Possible
consequences:
But Germany is the
largest country in
EU...so it will affect
them less and others
more
EU can withdraw
its support from
Ukraine
Germany can back
down from subsidy
#OPINION
WHERE DID THE
EUROPEAN
UNION FAIL??
WHY GERMANY
AND EU SUFFERED
• Globalism is the way to enhance the trade relations
between any two countries
Problems with Globalism
Globalism vs Nationalism
• Globalism aims to eliminate global trade
barriers.
• Whereas nationalism aims to have one's
own country above that of others.
CASE OF BREXIT
LIFE LESSONS LEARNED
Don’t exchange convenience for sovereignty
LIFE LESSONS LEARNED
CO-OPERATION is needed not CONTROL
LIFE LESSONS LEARNED
Decentralistion of power is important
THANK YOU

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Team 1.pdf

  • 1. 2022 - 23 RUSSIAN EUROPEAN GAS CRISIS BY PREM M SABARIVASAN K N ROVIN ABEL D
  • 2. • The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe • As of 2020 European Union had 5.8 per cent of the world population containing 18 per cent of world's gdp
  • 3. Aim of european union To create political and economic integration by creating • COMMON CURRENCY • A UNIFIED FOREIGN AND SECURITY POLICY • COMMON CITIZENSHIP RIGHTS
  • 4. Member states The European Union (EU) has 27 member states: Austria Belgium Bulgaria Croatia Cyprus Czech RepublicDenmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden
  • 5. WHY? • 1 VS BIG MARKET • ECONOMIC BULLY • UNITED WE STAND • UNSCATTERED POPULATION • NO CURRENCY EXCHANGE • SAME MARKETS
  • 6. On 24 February 2022, Russia invaded Ukraine RUSSIA - UKRAINE WAR On 24 February 2022, Russia invaded Ukraine The EU had imposed massive and unprecedented sanctions against Russia in response to the war of aggression against Ukraine
  • 7. Sanctions by EU Sanctions on Russia consists of travel bans and asset freezes • Travel bans prevent listed individuals from entering or transiting through EU territory, by either land, air or sea. • Asset freezes mean that all accounts belonging to the listed persons and entities in EU banks are frozen.
  • 8. Response of Russia • The Russia–EU gas dispute flared up in March 2022. • In June, Russia cut the flow of gas by more than half. • In July it stopped and resumed it • In September it stopped it altogether.
  • 9. Around a Quarter of Europe’s energy came from gas in 2020, more than nuclear, hydro, wind and solar combined
  • 10.
  • 11.
  • 12.
  • 13. • Russia provided roughly 40 per cent of all imported gas to the EU prior to the invasion, says the EUROPEAN COMMISSION.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26. Nord Stream 1 is a 1,224 km underwater gas pipeline running from Vyborg in northwest Russia to Lubmin in northeastern Germany via the Baltic Sea. It was completed in 2011.
  • 27.
  • 28.
  • 29.
  • 31.
  • 32.
  • 33.
  • 34.
  • 35.
  • 36.
  • 37.
  • 38.
  • 39.
  • 40.
  • 41. Subsidies and Why it is needed • Germany’s parliament voted to adopt the government’s proposal for a €200 billion gas price relief fund • Govt will bear the cost either directly or indirectly • Loans to power companies • Cost of power bills partly borne by the citizens and partly by the government
  • 42. Possibilities : • Other countries will also try to subsidize energy bills • If there is inflation there will be public disapproval and protests and eventually a change in power • Other countries can impose strict import duty which goes against the spirit of formation of EU
  • 43. Possible consequences: But Germany is the largest country in EU...so it will affect them less and others more EU can withdraw its support from Ukraine Germany can back down from subsidy
  • 45.
  • 46.
  • 47.
  • 48. WHY GERMANY AND EU SUFFERED
  • 49. • Globalism is the way to enhance the trade relations between any two countries
  • 51. Globalism vs Nationalism • Globalism aims to eliminate global trade barriers. • Whereas nationalism aims to have one's own country above that of others.
  • 52.
  • 54.
  • 55.
  • 56.
  • 57.
  • 58. LIFE LESSONS LEARNED Don’t exchange convenience for sovereignty
  • 59. LIFE LESSONS LEARNED CO-OPERATION is needed not CONTROL
  • 60. LIFE LESSONS LEARNED Decentralistion of power is important