The EU has a perfect plan to suffocate Russia. The problem is that now it needs its oil to survive

In December 2025, we said goodbye to the year by telling Vladimir Putin a resounding da svidániya (До свида́ния). The president of the European Commission, Ursula von der Leyen, and the Commissioner for Energy, Dan Jørgensen, pompously announced a political agreement to end Russian gas imports (both by pipeline and liquefied) by 2027. The political message was crystal clear: Europe wanted to show that it was no longer dependent on Moscow. The blackmail was over. But in its eagerness to celebrate the blackout of Russian gas, Brussels forgot a small detail: Putin’s oil still runs through the veins of Eastern Europe. And the embargo, in reality, has lasted very little. Barely three months later, physical reality has imposed itself on diplomacy. Today we find ourselves with a brutal paradox: the same European Union that designed an unprecedented economic war architecture against Moscow, and that asked its citizens to make sacrifices in the name of collective security, is now pressuring invaded Ukraine to open the tap on Russian crude oil. Deep down in the Kremlin, Putin always knew that the laws of politics rarely win against dependence on infrastructure. The epicenter of this crisis has its own name: the Druzhba pipeline (Interestingly, “friendship” in Russian). As revealed by an exclusive from Financial Timesthe EU is pressuring kyiv to allow inspection and repair of this infrastructure that transports Russian oil to Hungary and Slovakia. The problem lies in a Russian attack that occurred on January 27. As detailed ReutersUkrainian Energy Minister Denys Shmyhal confirmed that a bombing severely damaged the sensors and internal equipment of the infrastructure. The story is expanded by the CEO of Naftogaz, Sergii Koretskyi, in statements to Financial Times: The attack caused a storage tank with 75,000 cubic meters of oil to catch fire, unleashing a fire the size of a football field that took 10 days to extinguish. Ukraine claims that repairing this in the middle of war is slow and dangerous. However, Hungary and Slovakia do not buy this version. According to EuronewsPrime Ministers Viktor Orbán and Robert Fico have created a joint investigative committee, demanding immediate access to the area. Orbán has gone further, accusing Ukrainian President Volodymyr Zelensky of lying and orchestrating “state terrorism” and, together with Fico, demands that an independent investigation mission be deployed on the ground to verify the damage, something that kyiv refuses for security reasons in the middle of the war. The perfect storm in the Middle East Europe is not asking Ukraine for this favor on a whim, but out of pure survival. And to understand it you have to look to the Middle East. The recent coordinated attack by the US and Israel against Iran, which culminated in the assassination of Supreme Leader Ali Khamenei, has unleashed chaos. The Iranian response has caused a blockage de facto of the Strait of Hormuz, 20% of the world’s daily oil supply passes through this maritime funnel. The impact has been devastating: hundreds of ships are paralyzed, insurance premiums have shot up by up to 50% and the daily cost of renting a supertanker has risen by 600%. This has destroyed European plans.As analyst Shanaka Anslem Perera emphasizesEuropean sanctions have collided head-on with thermodynamics, and thermodynamics has won. With the EU’s gas reserves at 30% in mid-February, Qatar’s LNG trapped after the Hormuz blockade and the alternatives of Norway, Algeria and the US at the limit of their capacity, Europe has been left without a plan B. “The EU does not return to Russian oil because it wants to, it returns because it has no other option,” says Perera. So, are we once again dependent on Russia? For some EU countries, dependency was never cut. According to The Moscow TimesHungary and Slovakia continued to enjoy legal exemptions from European sanctions and were almost 100% dependent on the southern branch of the Druzhba pipeline, receiving some 150,000 barrels per day in January. The reason is purely economic, since Russian crude oil is between 13% and 20% cheaper. Although Croatia has offered its Adria pipeline (JANAF) to ship non-Russian oil to these countries, Euronews explains that Budapest resists. Orbán considers that it is not commercially viable, demands that Croatia allow the passage of sanctioned Russian oil and defends that its energy security cannot be an “ideological” issue. Curiously, while Europe suffers from its dependence, Russia observes the crisis of its allies from afar. According to an analysis of the cnnFollowing Khamenei’s death, the Kremlin has issued strong verbal condemnations but has refused to provide real military aid to Iran. Ukrainian military analysts note that Russia even refused to “blind” Israeli radars using its bases in Syria. Moscow, bogged down in Ukraine, does not have the resources to open new fronts, demonstrating that its alliances are more transactional than strategic. The pipeline crisis has mutated into lethal financial blackmail for kyiv. As noted Financial TimesHungary has vetoed the approval of an EU aid package for Ukraine worth €90 billion (scheduled for 2026-2027). Hungarian Foreign Minister Péter Szijjártó made it clear: there will be no money until oil flows through the Druzhba again. In Brussels, the European Commission is looking for shortcuts. Euronews points out that complex legal options are being consideredsuch as invoking Article 327 (which prevents countries excluded from an agreement from blocking the rest) or using the withholding of defense funds (the SAFE program) to pressure Orbán, who is in the midst of an election campaign. In the midst of the crossfire, diplomacy tries to survive. Deutsche Welle reports that Zelensky remains open to negotiating an end to the war with Russia. Although the talks were scheduled for March in Abu Dhabi, the instability in the Middle East due to Iranian missiles has led the Ukrainian leader to propose moving the dialogue table to Switzerland or Turkey. The great silent winner and European weakness While the West hyperventilates, calm reigns in Asia. China foresaw this scenario and he has been shielding himself for years. During 2025, $10 billion was spent … Read more

Café and cocoa have become so much more expensive to suffocate the sector itself. They leave it without liquidity to pay grain shipments

They do not run easy times For coffee lovers. Not even cocoa. Both goods have seen how their prices They shot themselves until reaching Historical values Fruit of a “perfect storm” in which bad harvests and the imbalance between supply and demand are mixed. And although there is who predicts That by the end of the year we will see the occasional price drop (Arabica coffee), today the operators are not having it easy. In fact there are already some who, given the shortage of liquidity, are being seen With difficulties To move the merchandise. It is the nth proof of how the sector is. What happened? That the escalation in coffee and cocoa prices is noticing beyond costs, The demand either The accounts of the sector. A few days ago Bloomberg revealed How the rise in futures markets Of both products is depleting the liquidity of some operators, which is already reflected in their logistics. As? According to the agency, there are companies that are finding problems to finance international merchandise movements. How does that affect the market? Bloomberg’s analysis is clear: to guarantee its position for the future and before the escalation of prices, there are operators who have had to mobilize great sums in the New York Stock Exchange. And that translates into a significant amount of cash blocked, which complicates financing the cargoes that transport grain from the production areas to the consumption points. As a backdrop are The difficulties with which it is part of the industry with the cash flow. What is the problem? “The market in cash and the availability of financing”, Clarify Pam Thornton, with a long experience in the raw materials and cocoa market. To the lack of liquidity it is also added that, in a clearly upward market, some suppliers that have sold at lower prices are breaking their commitments. Another handicap that affects the coffee sector is the shortage of containers and the lack of incentives for reserves. The situation is complicated because many companies sell at the same time with both products, coffee and cocoa, which leaves them in a difficult position when facing cash scarcity. An example aforementioned by Bloomberg herself is Olam Groupdedicated to both grains and that in just one year he has seen how his circulating capital shot 68%. The cause, as explained by the company: the “strong unprecedented increases” in the price of goods. Did prices upload so much? Yes. Specialized platform graphics such as Investing either Training Economics or of one’s own World Bank They are eloquent. The futures of Arabica coffee and cocoa In New York they have descended in recent weeks, but they still remain high if the entire historical series is taken into account. The causes respond in both cases to a sum of factors, including bad harvests in producing areas such as Western Africa, Brazil or Vietnam. In the specific case of cocoa prices 28% have fallen In 2025, but still the future negotiated in New York shot both last year that they remain at levels far higher than the average of the last decade. If we talk about coffee, They remain quite above of those of a year ago. Are there more indicators? Yes. Last week Reuters warned of the complicated situation faced by world coffee trade. In his analysis he even speaks of “paralysis”, with merchants and toasters throwing the brake and reducing their activity to minimums due to the increase in prices. “Normally we would be exhausted, but so far we have sold less than 30% of the production,” a manager of a manager of Elcafe ca does A few daysduring the Convention of the National Coffee Association of the US. “The great price increase is eaten the liquidity of the customers. They do not have all the money to buy what they need,” he adds. There are already signals They point out that Arabica coffee could be reduced sensitively by the end of 2025, both for the behavior of the Brazilian harvest and the effect of prices on the demand itself, but for the moment the industry is forced to be conservative. The footprint in the silos. Reuters points out another equally interesting effect: coffee stores close to US ports, which receive grain from the center or south of America, remain in half of their normal volume and in some cases they are even pretending them. “Some storage companies are returning the silos to the owners, canceling the rental contracts in advance,” Explain An executive of the sector. Images | Kelsen Fernandes (UNSPLASH) In Xataka | 2025 promised to be a calamitic year for the price of coffee. We would love to tell you that the forecasts were wrong

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