White House seeks energy security plan for Europe amid Russia-Ukraine crisis
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Russian President Vladimir Putin addresses a news conference following the U.S. Russia Summit with U.S. President Joe Biden, at Villa La Grange Geneva, Switzerland. June 16, 2021.
Denis Balibouse | Reuters
WASHINGTON – The Biden administration is looking at ways to secure energy for European allies in the event that Moscow slashes its oil and gas exports in retaliation for sanctions imposed for an invasion of Ukraine.
On Tuesday, a top administration official spoke out to reporters that “we’re in negotiations with major natural-gas producers around the planet to understand their ability and willingness to temporarily increase natural gas supply” and also to allocate these volumes to European buyers.
According to the official, “We have been working hard to locate additional non-Russian gas volumes from many areas around the world from North Africa and Middle East to Asia as well as the United States,” adding that European energy inventories are substantially lower thanks to decreased Russian supply in the recent months.
An official declined to name the individual in order not to reveal details about current plans. He said that administration was working closely with suppliers and buyers of liquefied gas in an effort to facilitate diversion to Europe.
A second official from the administration spoke on the phone with reporters. He stated that Russia could decide to arm its crude oil or natural gas supplies, which would have serious consequences for the Russian economy.
“This [Russia]”Russia is a mono-dimensional economy, and it requires oil and natural gas revenues as little as Europe does for its energy supply,” said the official. He also stated that Russia’s oil and natural gas exports account for about half of Russia’s federal budget revenues.
Putin does not have an asymmetric advantage. “It’s interdependency,” said the official.
Since months, both the U.S. along with European allies has threatened severe and swift economic consequences for Russian President Vladimir Putin’s order to invade Ukraine.
Biden warned Russia last week of “a tragedy” intelligence agencies warned that an attack on Ukraine could happen within a month.
Following an unusual deployment of more 100,000 Russian soldiers and equipment near Ukraine’s frontier, the intelligence assessment was made. The Kremlin has sent additional Russian soldiers to Belarus in recent weeks.
The Russian move mimics the buildup that occurred before its illegal 2014 annexation Crimea, an island on the Black Sea. This sparked international outrage and led to a string of sanctions being imposed against Moscow.
“This time, we will start at the top and remain there. “We’ve tried to signal this intention very clearly,” one official stated, in reference to U.S. actions from 2014.
The Kremlin previously denied it had been preparing to invade and described the troop deployment in a military exercise.
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