Russian LNG: Europe Pays, Putin Laughs!
Did you know that Europe is still buying Russian liquefied natural gas (LNG) worth billions of euros, right in the middle of the war in Ukraine? Yes, you read that right! While the world tries to break free from Russian energy dependence, giants like Germany’s state-owned company SEFE keep funneling billions into the Russian budget, which then funds military operations.
Who’s behind it all?
The main player is Novatek, a Russian company close to the Kremlin, owned by Gennady Timchenko, a former KGB agent and Putin ally. Novatek controls LNG from Siberia, transported daily by tankers named after Russian explorers – Zubov, Davidov, Litke – to ports in France, Belgium, and Spain. Each ship carries about 170,000 cubic meters of LNG, worth around 40 million euros per delivery.
How does Europe justify this?
Germany’s SEFE, state-owned, claims it operates under an old, non-cancellable contract and that breaking it would mean penalties. But critics, like Left Party MP Christian Görke, say Europe is basically printing money for the Russian military-industrial complex. If SEFE refuses the gas, Russia resells it on the global market, so Europe still pays – just indirectly.
Sanctions? What sanctions?
While Canada, the UK, and Australia have already sanctioned Novatek and its leadership, the EU has yet to do so. German environmental group Deutsche Umwelthilfe warns that Russian LNG brings billions annually into the Russian budget, directly helping finance the war in Ukraine.
How much money are we talking about?
SEFE plans to take 50 deliveries of Russian LNG this year, worth at least two billion euros. Half of the revenue from LNG sales goes straight into the Russian state budget, with a significant chunk funding military operations.
Contract end and future outlook
SEFE’s contract with Novatek expires on January 1, 2024, and the European Commission plans to fully end dependence on Russian gas by then. Germany’s Ministry of Economy supports diversifying energy sources but stresses that supply security and price stability must remain priorities.
Bottom line: Europe is paying for Putin’s war machine!
While Europe complains about war and sanctions, money keeps flowing into Russia’s war budget through LNG deliveries. Is this just business logic or hypocrisy at the highest level? If you have a good joke about this, share it – we all probably need a laugh while footing Putin’s bills!
Did you know each tanker carries gas worth 40 million euros? What’s your favorite conspiracy theory about how Europe still helps Russia? Drop a comment and let’s see who’s got the wildest idea!
