Italy stages dramatic Russia intervention in 10-YEAR war warning | World | News

League leader Matteo Salvini warned the war in Ukraine could go on for the next 10 years if the EU and other Western nations do not evaluate the effectiveness of their measures against Russia.

He said: “With regard to sanctions against Russia we have to look at the numbers: Russia’s trade surplus is 70 billion dollars.

“For the first time in history the sanctioned country is the one that earns more.

“I ask that the usefulness of the tool is looked at: if it works we go ahead but if it works we also risk going on like this for ten years.

“An instrument that was supposed to dissuade Putin from attacking ends up favouring his economy.

Russian natural gas supplies to Europe are down around 75 percent year on year, with export company Gazprom last week announcing unscheduled maintenance on the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany.

Natural gas prices jumped on Monday, with outages at Norwegian and UK gas fields adding to concerns.

British gas for immediate delivery was up 125 pence to 490 pence per therm at 1730 GMT, while the day-ahead contract rose 123 pence to 484 p/therm.

Ukraine’s gas transmission system operator said it and the Polish gas pipeline system had the capacity to bring Russian gas to Europe and compensate for the Nord Stream halt.

Gazprom did not respond to a request for comment on whether it would increase gas exports via other routes.

CPC (Caspian Pipeline Consortium) said it had to suspend loadings from its SPM-1 and SPM-2 mooring points due to damage at “the attachment points of underwater sleeves to buoyancy tanks”.

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It said loadings were only being processed from SPM-3 and so oil loading requests would have to be reduced.

Tengizchevroil (TCO), which represents Chevron and Exxon in Kazakhstan’s giant Tengiz project, said it was aware of temporary maintenance at CPC and its oil exports and output on its Tengiz oilfield were currently uninterrupted.

TCO has a lower output plan on its Tengiz oilfield in August-September due to planned maintenance.

“CPC is a key export route for crude oil production from Kazakhstan to reach international markets and many countries rely on this critical transportation system for their energy security”, – Chevron said in a statement sent to Reuters.

TotalEnergies, which has a presence in Kazakhstan as well, also did not immediately respond to a request for comment, while Shell and Eni, which are shareholders in CPC, declined to comment.

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