Norway Just DESTROYS Russia's Economy

Norway has dealt Russia a catastrophic blow of around seventy five billion dollars in losses in just two years. But what is behind the scenes of this devastating impact? How did Norway's oil and gas breakthrough, rising from the cold waters of the North, come to destroy the energy throne that Russia had enjoyed for so many years? February two thousand twenty two marked a turning point in the world geopolitical arena. The West stood by Ukraine with military and humanitarian support and showed President Vladimir Putin a red card through sanctions. However, these Western moves triggered domestic political unrest. Russia, for its part, has been hit by economic blows, losing valuable trading partners. The twenty first century's most critical war has deeply affected the world. But can there be a winner in this war? One side of the scales has to be up while the other side is down. In other words, President Vladimir Putin's decision to go to war is of great benefit to his neighbor Norway. The Scandinavian country is one of Europe's most important oil and gas reserves. The Barents Sea, which Norway shares with the Russian Federation, hides real oil and gas treasures. According to estimates, it contains two thirds of the country's remaining oil and gas reserves. Norway, the seemingly peaceful country of Scandinavia, with its small population and high level of prosperity, has simultaneously become one of the oil and gas giants of the north and a key player in a new energy order. So how did this quiet revolution come about? In wartime two thousand twenty two, ninety three fields were in operation on the Norwegian shelf. Seventy of them were in the North Sea, twenty one in the Norwegian Sea, and two in the Barents Sea. Oil and gas accounted for seventy three percent of the total value of Norwegian commodity exports in two thousand twenty two. Norway became Europe's largest supplier of natural gas in two thousand twenty two, replacing Russian flows that were cut off after the invasion of Ukraine. It now contributes about one third of the continent's gas. Natural gas sales from Norway totaled one hundred twenty four billion standard cubic meters last year. This was more than the previous record of one hundred twenty two point eight billion standard cubic meters set in two thousand twenty two. Total oil and gas production was the highest since two thousand nine. Norway's oil and gas revenues tripled, earning one hundred forty billion United States dollars in one year. Most of this money goes to the Norwegian government, which owns a sixty seven percent stake in Equinor, the country's energy giant. So Norway is printing money thanks to oil and gas. So how does this affect Russia's economy?