Ukrainian Energy Expert Says Country Must Sell Some Of Its Pipeline To…Russia!

ukraineWhile Iraq has dominated the geopolitical stage this week (and with good reason), there’s still some crazy stuff going on in Ukraine. Earlier this week Russian natural gas giant Gazprom OAO(MCX:GAZP) shut off the flow of its product to Ukraine. Then last night a portion of a pipeline in Ukraine “mysteriously” exploded. Can anything be done to calm the tensions?

In short, yes says energy expert and former advisor to the Ukrainian government Robert Bensh. For starters Bensh notes that 60% of Europe’s gas flows through Ukraine. When Gazprom shut down the flow it impacted more than just Ukraine and that alone could prompt action if the rest of the EU begins to feel the pinch. “What this really is more than anything else is Russia exerting control and influence both over Ukriane and the European Union with regard to its gas supply,” he says.

Then comes the exploding pipeline. Bensh admits this has Russia’s fingerprints all over it and says it will allow them to “argue to the European Union and the United States that Ukraine cannot secure the transportation system and something must be done.”

So what then can the U.S. actually do?

You can see the full “Breakout” segment below:

Related: Ishares Msci Russia Capped Index Fund(NYSEARCA:ERUS)

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