Tag Archives: ukraine
Ukrainian President Viktor Yushchenko discussing the gas dispute
If anyone read my last post on the dispute between Ukraine and Russia over natural gas, you may have missed why the United States should care.Â So, I’ll start that explanation with this map of the worst affected countries from the reduction in shipments from Russia. Then, I’ll broaden the picture with this discussion of how the impact of reductions in gas shipments is spreading across Europe. Among the more interesting tidbits in this article is that 25% of Europe’s gas shipments come from Russia, and 80% of that comes through Ukraine. Even countries like England that don’t get much of their gas from Russia are seeing higher gas prices and expect significantly higher prices if the situation continues.
The current global economic crisis is already causing everybody more than enough trouble. High natural gas prices, along with a shortage of natural gas, in Europe will only make the problems in Europe more severe, a development that is bound to work its way back to bite the United States at some point.
More talks are expected between Ukraine and Russia on Thursday. It should go without saying that they are crucial.