Europe’s gas crisis is a huge windfall for Egypt ...Middle East

Quartz - Economy
Europe’s gas crisis is a huge windfall for Egypt
source : Quartz ( Middle East ) () 11
As governments such as Europe and the US make plans to block imports of Russian oil, they’re left with fewer alternatives for where to get their natural gas. Russia is taking advantage of that dependence and stepping up pressure on European countries to pay for Russian natural gas imports in rubles to prop up the value of the Russian currency. It has already cut off gas supplies to six countries, including Germany and Denmark, that refused to do so.As gas prices skyrocket and European countries scramble for non-Russian gas suppliers, other emergent gas exporters are reaping a windfall.In the first four months of 2022, gas export revenues in Egypt reached $3.9 billion, according to Reuters. T

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