The Trump administration is pushing forward with seeking to forge a peace deal in Ukraine, despite recent warnings it could give up trying to mediate if progress isn’t made, as well as seeking to repair bilateral US-Russia relations.
“With a frost covering Europe’s energy relations with Russia, officials from Washington and Moscow have held discussions about the U.S. helping to revive Russian gas sales to the continent,” Reuters has cited eight sources to say.
Europe, other than a couple holdout countries like Hungary and Slovakia, drastically slashed its Russian gas imports soon after February 2022 and the start of the Ukraine war. Gazprom subsequently posted a $7 billion loss in 2023.
Russian gas coming back online to the continent is being presented as a key incentive by Washington:
Sources close to the bilateral discussions said carving out a renewed role for Moscow in the European Union’s gas market could help cement a peace deal with Russian President Vladimir Putin.
Though much of Europe has sought alternative supply, some buyers have remained, and industry officials say more could return once a peace deal is agreed.
As Russia’s economy was hit hard the loss of most of Europe’s gas market three years ago, it has increasingly solidified its partnership and dependence on China for energy and industrial trade.
