Why the UK has said no to paying for Russian gas through Gazprombank
The UK seems to be leading the way in the anti Russia stance and has refused the Gazprombank option of paying for gas in Rubles.
It is a clever way the Russians have allowed countries to pay in their own currencies which then get transferred into Rubles to keep liquidity in Russia from exports
Instead of agreeing to this clearance of payments, Boris’ Government have sanctioned the bank.
This potentially leaves a rather large hole in their energy needs given their reliance on gas and oil. It’s curious as to how they will replace it and just how much did they source from Russia..
Boris has previously said he will lead the world with the brave claim that in 10 years, 100% of their domestic power needs will be derived from wind energy, so perhaps that’s the answer?
Wind turbines vary in how much they can generate each day based on wind conditions. Here is how much wind energy they created lately
Wind power currently makes up less than 5% of the UK’s energy requirements each year. As you can see from the graph above, last month there were times when hardly enough wind power was produced to power the night light in Boris Johnsons bedroom.
Here is their energy profile
Clearly wind is not the answer
The question is how much or the red area and the green area were they relying on Russia for.
According to the UK media only 3% of their natural gas and 8% of their oil comes from Russia. So perhaps not the end of the world.
However that is still energy that will need to be replaced and at what cost.
It seems the UK have been wiser as to where they have sourced their energy from though as relying on Russian energy has become very problematic for European Nations.
Unlike the UK, the Germans are way more indebted to Russian Energy. So much so they ate now considering Nationalising their gas providers Gazprom and Rosneft, all in the name of energy security.
Oh what a tangled web we weave