Media reports Czech increases its imports from Russia
Date
8/15/2024 7:46:19 AM
(MENAFN) The Czech Republic has significantly increased its imports from Russia in the first half of 2024, defying the broader European Union sanctions imposed on Moscow, according to a report by news portal Ekonomickydenik. The volume of Czech imports from Russia surged by 11.4 percentyear-on-year, reaching USD1.5 billion. This rise is primarily attributed to a substantial increase in Russian gas supplies.
In particular, Czech purchases of natural gas from Russia soared eightfold compared to the previous year, amounting to USD370 million. The Czech Republic’s imports from Russia also include key commodities such as oil, natural gas, and nuclear fuel essential for operating its two nuclear power plants. Additionally, the country imports Russian aluminum, nickel, synthetic fertilizers, and metallurgical products.
The report notes that indirect imports of Russian gas have also risen since last October. This indirect importation involves purchasing surplus gas from Austria, Hungary, and Slovakia—countries that themselves rely heavily on Russian gas. Currently, Czech traders do not have direct contracts with Russia's major gas company, Gazprom.
Despite being a NATO member and a vocal critic of Russia within the European Union, the Czech Republic's increased imports from Moscow appear at odds with its stance. The country has been a staunch supporter of European Union sanctions against Russia, has provided military aid to Ukraine, and has imposed restrictions on Russian citizens, including a suspension of visa and residency permits with limited exceptions.
In response to the Ukraine conflict and the need to reduce dependency on Russian energy, Prague has been working to diversify its energy sources. It has sought to secure alternatives from Norway and the United States, with the latter providing liquefied natural gas (LNG) primarily delivered to a terminal in the Netherlands. Despite these efforts, the Czech Republic’s continued importation of Russian energy underscores the complex balancing act faced by many European nations in navigating their economic and political relationships with Russia.
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