Countries rich in natural resources have been able to gain significant economic and political power since reliance on energy began with the worldwide industrial revolutions.
Russia is one of these countries that has been able to exploit this, becoming the main supplier of natural gas to the EU, and getting a lot of power on the process.
The country is predicted to have the largest natural gas reserves in the world according to estimations carried out by the US Geological Survey. Much of these reserves have yet to be discovered. As a result of this wealth in energy, natural gas has become one of the most successful and profitable parts of the Russian economy.
With the inclusion of the Nord Stream 2 project, some countries as United States with others of Europe as Ukraine (in huge tensions with Russia) have talked against the project itself.
The Americans says that the project gives to much control of Russia over Europe, while other says that they just want to be the ones selling their natural gas as LNG (Liquified natural gas) to Europe, losing money with the Nord Stream 2. On the other hand, Ukraine sees on the Nord Stream the lose of millions while the gas won’t go through their country anymore, feeling unprotected against a future war with Russia.
TIMESTAMPS:
00:00 Intro
01:28 European dependence on Russia’s natural gas
03:29 Relations between Russia and Europe
04:40 Relations between Russia and Ukraine
06:21 The Nord Stream 2 project
08:20 The effects of the Nord Stream 2 on us political relations
10:20 What other powers could natural gas gift to Russia?
11:17 Conclusion
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