Russian tycoon expects EU to cave in on gas purchases

EU nations will have to return to Russian natural gas supplies within a year and a half, Russian businessman Oleg Deripaska predicted on his Telegram channel on Monday.

According to the billionaire, the lack of gas deliveries from Russia is currently forcing the bloc’s lawmakers to make “the only correct decision and change the main focus from the green transition to nuclear energy.”

“However, this is not a quick process, meaning that it’s necessary to end the Ukraine conflict and agree on gas supplies with Gazprom,” according to Deripaska.

The tycoon highlighted that the terms of a potential agreement with Moscow will not be favorable to the EU, as the bloc will have to return frozen assets to the Bank of Russia, compensate for the destruction of the Nord Stream pipelines, and cover sanctions-related losses for Russian businesses.

“It’s serious compensation [the bloc will have] to pay for American adventures, but it’s still cheaper and more profitable than buying unnecessary weapons worth trillions of euros, and, in addition, losing such a sweet Russian market,” he argued.

Deripaska, the founder of the world’s second-largest aluminum company, Rusal, also said the about-turn would not happen immediately, but that “cold winters will make the 'Eastern Compromise' acceptable” to the EU much faster, “in about a year and a half.”

“Nuclear energy has returned after almost 20 years of useless debate with the so-called greens,” he concluded, adding that the return to reliable sources of fuel is inevitable.

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