close
close

What impact do Ukraine’s actions in the Kursk region have on Europe?


What impact do Ukraine’s actions in the Kursk region have on Europe?

By Kerim Sultanov

The Ukrainian army has taken an unprecedented step by entering the Russian Kursk region and capturing strategically important positions there. This unexpected move raises many questions about the reasons for the attack and the possible goals of the Ukrainian side. What is behind this offensive and what are its future prospects? Ukrainian analyst Ivan Us answered these and other questions in an interview with News.Az .
News on - What impact do Ukraine's actions in the Kursk region have on Europe? https://static.dw.com/image/69893667_906.jpgAccording to him, the events in the Russian Kursk region included the occupation of a gas distribution station near the village of Sudzha by unknown forces.

“Ukraine has not officially claimed responsibility for these actions, which raises suspicions that they could be pro-Ukrainian formations. However, it is currently not possible to determine exactly which unit was involved in these actions, so caution must be exercised when making statements. One thing is clear: these forces have some connection to Ukraine.

The Sudzha gas distribution station plays a crucial role in the region’s gas supply system. Its main function was to enable Russia to control the volumes of natural gas entering Ukraine’s gas transportation system. These figures were then compared with the data collected when Ukraine left Ukraine and joined the European Union. The question arises: how reliably can this gas transportation system function now, given that the contract for gas transit through the southern branch of the Druzhba pipeline from Russia to Europe is valid until the end of 2024,” Us noted.

Of course, this situation had an immediate impact on the market, said the analyst. “Natural gas prices in Europe began to rise. On August 6, the price per megawatt hour was 34 euros, now it has reached 40 euros. This is a significant increase, although it does not yet seem dramatic. Compared to the figures at the end of 2023, the increase is about 9%, which is undoubtedly significant and is being actively discussed in the press.

This week began with sharp fluctuations in global stock markets. In particular, a 12% drop was recorded in the Japanese stock market, along with significant declines in indices in Istanbul, Taiwan, South Korea, the EU and the US. However, by Tuesday, some indicators began to recover.

As for gas supplies, at present, despite the hostilities, the transit of Russian gas to Europe through Ukrainian territory continues. If Ukraine’s partners have any doubts, we have data confirming that supply volumes have not changed. Nevertheless, the situation remains dynamic, and as we approach August 10, it is difficult to predict what changes may occur over the weekend and what new realities we will face next week,” Us explained.

News.Az

Leave a Reply

Your email address will not be published. Required fields are marked *