Mr. Rasmussen and other executives added that identifying suitable areas for wind turbines and obtaining permits required for construction take “far too long.” Challenges are based on worries that the vast arrays of turbines will interfere with fishing, obstruct naval exercises and blight views from summer houses.
The punishing sanctions that the United States and European Union have so far announced against Russia for its invasion of Ukraine include shutting the government and banks out of global financial markets, restricting technology exports and freezing assets of influential Russians. Noticeably missing from that list is the one reprisal that would cause Russia the most pain: choking off the export of Russian fuel.
The omission is not surprising. In recent years, the European Union has received nearly 40 percent of its gas and more than a quarter of its oil from Russia. That energy heats Europe’s homes, powers its factories and fuels its vehicles, while pumping enormous sums of money into the Russian economy.
a third of the national budget. But a cutoff would hurt Europe as well.
37 percent of its global trade in 2020. About 70 percent of Russian gas exports and half of its oil exports go to Europe.
The flip side of mutual interest is mutual pain.
European leaders are caught between wanting to punish Russia for its aggression and to protect their own economies.
halt Nord Stream 2 — the completed gas pipeline that directly links Russia and northeastern Germany — is among the most consequential that Europe has taken, said Mathieu Savary, chief European investment strategist at BCA Research.
Russia shrank its pipeline exports by close to 25 percent compared with a year earlier, according to the International Energy Agency. Europe’s reserves stand at just 30 percent, and Europeans are already paying exorbitant prices for energy.
The conflict is occurring when supplies of both oil and natural gas have been tight for months, driving up prices.
“There are serious concerns” that Moscow will tighten exports further and send prices higher, said Helima Croft, head of commodities at RBC Capital Markets, an investment bank.
Germany, Russia’s largest trading partner in Europe, gets 55 percent of its supply from Russia. Italy, the second-biggest trading partner, gets 41 percent. At a forum in Milan last week, the Russian ambassador Sergey Razov said President Vladimir V. Putin had told the Italian prime minister, Mario Draghi, that “if Italy needs more gas we are ready to supply it.”
Mr. Putin also made a point of saying that roughly 500 Italian businesses have operations in Russia and that bilateral investments are worth $8 billion.
Austria, Turkey and France are large consumers of Russian natural gas. In central and Eastern Europe, Hungary, Poland, the Czech Republic and Slovakia are the biggest customers, the Russian energy giant Gazprom said.
250,000 barrels a day from Russia that move through Ukraine to Hungary, Slovakia and the Czech Republic. That amount is relatively small in a global market that consumes 100 million barrels a day, but its loss could create severe shortages in those countries.
dizzying spikes in prices for energy and food and could spook investors. The economic damage from supply disruptions and economic sanctions would be severe in some countries and industries and unnoticed in others.
The money that Russia makes from energy exports could also be reduced if shippers, wary of the growing complexity of transporting Russian crude and supplies, raise what they charge Moscow, Mr. Goldwyn said.
He added it was possible that the White House would ban imports of Russian crude to the United States. Such a move, experts said, would force American refiners to rely on other suppliers and Moscow to find other buyers for around 700,000 barrels a day. China would most likely be one, after the two countries pledged to “strongly support each other.”
Flows of L.N.G. from elsewhere, mostly the United States, have exceeded Russian gas volumes to Europe in recent weeks. Such measures would probably help Western European countries like Germany and Italy more than those in southern and Eastern Europe with fewer alternatives to Russian gas.
Even without a clear cutoff of fuel by Moscow or a disruption by war, there is a substantial risk that extraordinarily high gas and electricity prices will continue, squeezing hard-pressed consumers and, possibly, pushing more businesses to scale back their operations. In recent months, some energy-intensive businesses, including fertilizer makers, have announced closures because of high gas costs.
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Her party leader and chancellor, Olaf Scholz, has been more circumspect, saying after a meeting with the NATO secretary-general, Jens Stoltenberg, on Tuesday that Germany was ready to discuss halting the pipeline should Russia attack Ukraine. “It is clear that there will be a high price to pay and that everything will have to be discussed should there be a military intervention in Ukraine,” Mr. Scholz said.
The issue is sensitive for Washington, too. Last week, at NATO, Wendy R. Sherman, the deputy secretary of state, said: “From our perspective, it’s very hard to see gas flowing through the pipeline or for it to become operational if Russia renews its aggression on Ukraine.”
But the divisions are precisely why her boss, the secretary of state, Antony J. Blinken, is in Berlin on Thursday to talk to the German government and to senior diplomats from Britain and the so-called Normandy Format on Ukraine — France and Germany.
Set up in 2014 after the commemoration of D-Day in Normandy, the group includes Russia, Ukraine, France and Germany, but not the United States, because at the time President Barack Obama wanted to leave Ukraine to the Europeans.
Some consider that to have been a mistake, and there are discussions now about whether the United States should also join to try to de-escalate the current crisis. Negotiations produced the Minsk accords, which both Russia and Ukraine accuse the other of violating, and which Russia continues to say hold the key to the Ukrainian crisis.
Further divisions were on display on Wednesday in Strasbourg, France, where Emmanuel Macron, the French president, gave a long speech to the European Parliament setting out his priorities for the French presidency of the European Union — and implicitly for his own re-election campaign with voting in April.
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