Falling oil prices and Western pressure have forced Russia to cancel South Stream, according to an article published in the online edition of The Economist.
Highlighting that Russia’s cancellation of the pipeline project “has taught its friends a lesson”, the article describes South Stream as an attempt by Moscow to “regain sway in south-eastern Europe”.
Russia’s plan to transport gas under the Black Sea to central and southern Europe has attracted “a host of supporters, including traditionally Kremlin-friendly countries (Austria, Bulgaria, Italy and Serbia) as well as Croatia, Slovenia and Hungary”.
But it also was a challenge to the authority of the European …read more
Source: Novinite
