Qatargate Is Driving Europe to Breaking Point
23rd December 2022
Can the European Union afford to snub Qatar? The corruption scandal engulfing the European Parliament centers around allegations that the Gulf state gave bribes in exchange for influence and favor. But if the EU cleans up this problem by distancing itself from Qatar, it might have a serious, potentially even larger, dilemma on its hands.
The war in Ukraine, sky-high inflation, the energy crisis and internal divisions have already shaken the very foundations of the EU. With four suspects, including Eva Kaili, a vice president of the European Parliament, now being held on charges of corruption and money laundering, what has been dubbed “Qatargate” may push the EU over the brink. Even if it wanted to, can it clean up its own act?
Before the war in Ukraine, the EU imported 40 percent of its gas and 27 percent of its oil from Russia. These gas imports have now fallen to under 10 percent with oil imports to follow by the end of the year. The resulting rise in energy prices has been a key driver of inflation, as well as making bills unaffordable for many businesses and private households. To fill the hole left by Russian gas, Europe will need to source an estimated 200 million tons of liquefied natural gas, or LNG, alone over the next few years.