Energy supplies to Europe are still uncertain owing to persistent conflicts. Due to the ongoing crisis in Ukraine, Russia’s gas imports to China soared by as much as 60% in the first four months of 2022. This is compared to the same time the previous year. Despite the fact that energy supplies to Europe are still unpredictable owing to ongoing hostilities and Western sanctions against Russia, Russian energy giant Gazprom announced a significant rise in exports on Sunday.
The transfers were supplied through the Power of Siberia pipeline as part of a deal between Gazprom and China National Petroleum Corporation, according to Russia Today (CNPC). Rather than condemning Russia’s invasion of Ukraine, Beijing has urged a diplomatic solution.
The United States advises China not to assist Russia, and expresses alarm over China’s cooperation. According to the study, the energy standoff between Russia and the West has resulted in a 26.9% drop in gas exports to countries outside the former Soviet Union. Since the beginning of the year, with 50.1 billion cubic metres have been supplied in the previous four months.
Furthermore, Russian President Vladimir Putin had earlier directed that payments for gas from ‘Hostile nations’,such as the European Union (EU), be made in rubles beginning March 31. The EU first denounced Moscow’s revised requirements as ‘blackmail,’. However the European Commission has acknowledged that there may be ways to pay for Russian gas in rubles while staying within the sanctions’ parameters.