Credibility lies at the heart of deterrence. Whether you are Nato Secretary General or the cat lady from down the street, it doesn’t matter how severe the threat unless it is deemed plausible.
Europe has a credibility problem when it comes to energy imports. While the severity of Western sanctions has surprised much of the world, including some in the West itself, they contain one 759-mile (the length of Nord Stream 1, still very much in existence) carve out.
