Energy Breaks The EU

A flareup in Eastern Europe could snowball.

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“What may have been viewed as a small, concentrated action by Ukraine against Russia’s energy interests, could have wide consequences for all of Europe.”

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Recently, Wael Sawan, the head of Shell, the massive Dutch energy giant, shared that energy prices in Europe were returning to their pre-2022 levels. The energy “red zone” that many European capitals had found themselves in, after Russia’s invasion of Ukraine began, was finally moving back into the green. For many, this was welcome breathing space, as the outlook for Europe, after the West imposed sanctions on Russian energy, was bleak: a cost of living crisis, energy rationing, even talks of rolling blackouts, all during peak winter months.

However, as Europe bounces back from one energy crisis, another energy crisis threatens to begin, potentially snowballing into an “energy war,” that could break the EU in irreversible ways.