By reducing gas supplies via Nord Stream 1 to 20% of its capacity, Russia is primarily harming itself, not Europe. This is a " This opinion was expressed in Fortune magazine by researchers from Yale University who analyzed the situation in the Russian energy sector, Radio Liberty reports..

Researchers Jeffrey Sonnenfeld and Steven Tian believe that from a purely economic point of view, Russia needs the European market more than the world needs Russian energy resources.. In 2021, European countries imported 46% of energy resources from Russia, while exports to Europe accounted for 83% of all Russian exports. Now, due to its policy, Moscow is forced to sell its oil to Asian countries at a 35 percent discount..

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“Russia’s oil and gas export revenue losses approaching catastrophic given rising public spending, a two percent budget deficit and dwindling gold reserves,” write Jeffrey Sonnenfel and Steven Tian.

Putin counts on the split of European countries. But this tactic won't work, American analysts say.. Politicians in Europe and the US take joint action. Natural gas production and liquefied gas production in other countries, in particular in the United States, have reached a record level, oil production is approaching a record high.

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We also recall that after Biden's visit to the Middle East, Saudi Arabia and Iraq increased the supply of oil to European countries.. Also, after a three-month break, Libya resumed oil exports.. And regarding gas, the West is negotiating with African countries, in particular with Nigeria.