The Intelligence from The Economist Pipe down: Russia cuts gas to Poland and Bulgaria
Apr 28, 2022
Henry Kerr, Economics editor at The Economist, shares his insights into Russia's aggressive gas cuts to Poland and Bulgaria, highlighting the economic fallout for both Europe and Russia amidst the ongoing Ukraine conflict. Meanwhile, Charlie McCann, Southeast Asia correspondent, discusses the rise of Lawrence Wong as Singapore's potential next prime minister, noting his relatable leadership style. The conversation takes a cultural turn with reflections on the Venice Art Biennale's delayed yet impactful exhibition, demonstrating art’s evolving role in society.
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Russia's Gas Cut-Off
- Russia halted gas to Poland and Bulgaria, escalating economic tensions.
- This aggressive move marks Russia's strongest economic sanction against the West during the war.
Impact on Poland and Bulgaria
- Poland and Bulgaria can likely handle the gas cut-off, especially with decreasing summer demand.
- They have alternative sources and gas isn't as crucial to their energy mix as it is for Germany and Italy.
Potential EU Sanctions
- The EU might impose a tax or price cap on Russian oil, forcing Russia to lower prices.
- This allows Europe to reduce Russia's profits while maintaining some energy flow, but Russia could retaliate.