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Jeffrey J. Schott (PIIE)
Europe and the United States are under pressure to block the Nord Stream 2 natural gas pipeline if Russian forces invade Ukraine. Such a step would curtail Russian revenues, but Europe would have to give up vital gas imports needed to mitigate its energy shortages. Over the long term, Europe needs to speed its transition away from fossil fuels and dependency on Russian resources.
The Peterson Institute for International Economics building is closed to staff and visitors until further notice. PIIE personnel are working remotely, with access to telephone messages.
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