Skip to content

Who wins and who loses the global energy war if Russia invades Ukraine?

People in this story

Peter Kovalev/TASS (Photo by Peter KovalevTASS via Getty Images)
An output filtration facility of a gas treatment unit at the Slavyanskaya compressor station (operated by Gazprom), the starting point of the Nord Stream 2 offshore natural gas pipeline.

The mere threat of a Russian invasion of Ukraine is roiling world energy markets. Oil and gas prices are marching upward, hitting levels not seen in years. President Joe Biden is bracing Americans for the ripple effect on their wallets when they fill up their gas tanks. “I will not pretend this will be painless,” Biden said at a White House briefing on Tuesday.

Energy-hungry Europeans, meanwhile, are already facing volatility in their natural-gas markets. They could feel the pain more acutely than others if Russian President Vladimir Putin decides to attack Ukraine, and the Biden administration in turn puts sanctions in place, including a delay in approving a new natural-gas pipeline between Russia and Germany. Preventing the pipeline from going into operation could damage the Russian economy, but also could have negative impacts on Europe. So who stands to lose if the Russian-owned pipeline, known as Nord Stream 2 and which lies under the Baltic Sea, remains idled?

Russia and Germany, primarily, but if Russia took further action to stop other flows into Europe, the effects could be “catastrophic,” says Northeastern’s Julie Garey, assistant teaching professor of political science who specializes in international relations.

Continue reading at News@Northeastern.

More Stories

The Harriet Tubman House Memory Project is one of four Boston Research Center efforts to preserve local history. The Harriet Tubman House, a community center which stood at 566 Columbus Ave, in Boston's South End neighborhood from 1975 to 2020, was demolished in 2019 but lives on through a detailed digital history hub created by the BRC. Northeastern University Library, Archives and Special Collection

Northeastern’s Boston research center creates a new model for preserving local history

COLORADO SPRINGS, COLORADO - NOVEMBER 20: People hold a vigil at a makeshift memorial near the Club Q nightclub on November 20, 2022 in Colorado Springs, Colorado. Yesterday, a 22-year-old gunman entered the LGBTQ nightclub and opened fire, killing at least five people and injuring 25 others before being stopped by club patrons.

In wake of Colorado Springs massacre, 2022 is deadliest year for mass killings, Northeastern expert says

11/22/22 - BOSTON, MA. - Stock photo of Patricia Illingworth's new book, Giving Now, Accelerating Human Rights for All, on Nov. 22, 2022.

Human rights should guide all philanthropic giving, says professor