Putin's Revenge!

This is probably one of the most important editorials you'll read in 2015, and I mean it with every sense of earnestness. But first, let us set the facts and numbers, which you won't find as direct and complete elsewhere. Europe imports around 36% of its natural gas from Russia, which in turn exports 60% of it through Ukraine. The other 40%, Russia exports through Belarus, Latvia and Finland. When Russia supported the separatists in Ukraine, the US and Europe responded with some tough sanctions against the Russians. This week, Russian president Vladimir Putin ordered that Russian gas to Ukraine be stopped, accusing the latter of stealing it. The end result is that Europe just lost 22% of its total natural gas supply overnight. Now the details.

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