Transship of Russian gas to Europe via TurkStream hit an all time high this week as prices triple. The EU is emptying its tanks at the fastest pace in 5 years. Are we headed for a new energy crisis?

The international system during the Cold War was organised under extremely zero-sum conditions. There were two centres of power with two incompatible ideologies that relied on continued tensions between two rival military alliances to preserve bloc discipline and security dependence among allies. Without other centres of power or an ideological middle ground, the loss for one was a gain for the other. Yet, faced with the possibility of nuclear war, there were also incentives to reduce the rivalry and overcome the zero-sum bloc politics.

Europe’s top buyer France imported record volumes this year. Russia is second largest LNG supplier to EU after US

‘Well, let me begin by saying that its resurrection would suggest that Europe at some time or another has been dead, but whilst she has undoubtedly been in a critical condition at times throughout the centuries, I would hesitate to say that she has ever been ‘dead’.

The European Union’s attitude to the Russian-Ukrainian war is a key priority area of the Community’s foreign policy. The intensity of the fighting is constantly increasing and, in addition to the warring parties, the burdens on Europe placed by the sanctions are also increasing. Despite this, the intention of bringing those affected to the negotiating table is not pronounced in Brussels’ efforts. However, based on the results of the research conducted by Századvég, Europeans would expect their leaders to work towards a peace agreement as soon as possible and a quick end to the war.

A solution to Russia’s war in Ukraine doesn’t need to come from Russia or Ukraine. But it needs to come from somewhere

Yves here. Michael Hudson was interviewed Thursday on MEGA, a German news radio program, focusing on the economic impact of the war with Russia on major players, particularly Europe. We have a translated transcript below and will embed the YouTube version (in German) which is expected to be posted early next week.

Boxed in, the European Union is failing the test of the war in Ukraine.

Officials are unhappy with the Inflation Reduction Act and its subsidies that could drive investment out of Europe

The Russo-German relationship is essential for shaping the broader environment that European states inhabit.