Josip
pre 9 godina
Why was it cancelled? Mainly economics but also EU politics. Russia's finances - and Gazprom's - are getting hammered by low oil and gas prices. South Stream was very expensive and not based on an economic case, but rather on political strategies (bypassing Ukraine and having leverage over the EU). With EU gas consumption and gas prices dropping, while there is more energy competition in the EU, the deal made less sense. Then the EU lobbied supporting members like Bulgaria, Italy and Austria to drop their support. This may be the first evidence that Russia cannot afford Putin's foreign policy.
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