(MENAFN) Russian billionaire Oleg Deripaska has forecasted that European Union (EU) nations will inevitably resume purchasing Russian natural gas within a year and a half. Sharing his insights on his Telegram channel, Deripaska argued that the current absence of Russian gas deliveries is compelling European Union lawmakers to reconsider their focus on the green transition and shift towards nuclear energy.
Deripaska acknowledged that transitioning away from green energy is a gradual process, contingent upon the resolution of the conflict in Ukraine and negotiations with Gazprom regarding gas supplies. He emphasized the need for the European Union to make what he views as "the only correct decision" to ensure energy security.
The terms of a potential agreement, according to Deripaska, may not be favorable to the European Union. He suggested that the bloc would be required to return frozen assets to the Bank of Russia, compensate for the destruction of Nord Stream pipelines, and cover losses incurred by Russian businesses due to sanctions. Despite characterizing it as "serious compensation" for what he referred to as "American adventures," Deripaska contended that this approach would still be more cost-effective than investing in unnecessary weapons and losing access to the lucrative Russian market.
Deripaska, the founder of Rusal, the world's second-largest aluminum company, asserted that the European Union's shift back to Russian gas would not be immediate. He predicted that the acceptance of the "Eastern Compromise" would accelerate, particularly during cold winters, making the arrangement acceptable to the European Union within approximately 18 months.
The tycoon's observations provide insight into the complex geopolitical dynamics surrounding energy security, economic considerations, and the ongoing impact of the Ukraine conflict on international trade relations. As the European Union navigates these challenges, Deripaska's predictions highlight the potential scenarios that could unfold in the evolving landscape of European-Russian energy relations.
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