Russia cut their deliveries of gas to Bulgaria two months after the country invaded Ukraine, and Greece has also been buying less gas from Russia since they invaded Ukraine. Many Baltic countries have done this, so by Bulgaria and Greece starting to grow their own distribution greatly helps the region. The EU and America support this project as well, because of the negative impact it would have to Russia's income and influence in the area. The Baltic region has historically relied on other for help or because they were under the USSR empire. This new move by Greece and Bulgaria decreases the dependency on other countries and will bring valuable income to the region.
https://apnews.com/article/europe-greece-bulgaria-athens-business-4e5636c5b850393440df6b61086c80a8
2 comments:
It will be interesting to see how the change in demand will impact Russia in the long run. Due to the war in Ukraine, many countries have imposed sanctions on Russian oil. Currently, the two largest buyers of Russian gas are China and India. In the long run, I think the war in Ukraine will significantly impact smaller countries as we have seen many look for alternatives to Russian oil.
I think this is a very interesting and important topic, when it comes to both environmental resources, and economic independence. I think that it is very important, as the was in Ukraine continues to escalate, that other EU nations establish an independence from Russian resources, such as oil, and cut off their reliance from a nation that engages in international violence. This will help to provide economic incentive to Russia to stop conflict in Ukraine, and will benefit other EU nations to have a more reliable flux of resources.
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