Russia is about to win Cold War 2.0
Russia completed a major new gas pipeline this week.
Russia’s de-facto gas export monopoly Gazprom says it will start filling the Power of Siberia pipeline to China from September 1, rather than December, as was initially proposed.
Gazprom and CNPC signed a contract worth US$400 billion to supply 38 billion cubic metres (bcm) of gas per year over 30 years through the pipeline.
Russia overtook Saudi Arabia as China’s largest oil supplier in 2016.
$400 Billions is a nice chunk of change. For Russia it was critical, because a third of their revenue comes from oil and gas exports. Diversifying exports away from dependence on Europe is also important.
The second-most important pipeline is Nord Stream 2.
Notice the article above is nearly a year old.
Below is an update.
So, no matter how much the U.S. and the anti-Russian forces within European and British society want to stop this pipeline, as evinced by this week’s non-binding vote against it in the European Parliament, there isn’t the appetite in the U.S. to actually do it.
The U.S. Senate has no interest in telling the President to sanction the companies building Nordstream 2...
The real reason Trump won’t sanction Nordstream 2 is the same reason he will fold to China on trade: dollar liquidity and world trade.
He’s already done enough damage...
If he was going to sanction Nordstream 2, he would have.