Benchmark Dutch TTF gas futures soared 30%, while the Frankfurt stock market fell 2.2% and the Paris stock market fell 1.2%.
Since ordering the invasion of Ukraine on February 24, President Vladimir Putin has accused the United States and its allies of having embarked on an economic war against Russia with the harshest sanctions in contemporary history. Thus, he has warned them that they will face a severe energy crisis.
faults
EU countries have repeatedly rejected Moscow’s argument, accusing it of militarizing energy supplies. The spokesman for the German government said yesterday that the latest increase in the price of gas is part of Putin’s strategy. Likewise, analysts are already warning about the possibility of supply rationing and anticipate that the Government of Olaf Scholz will have to prioritize households over industries, which would increase inflation and slow down activity.
Since the war began, European Union customers have vowed to reduce their reliance on Russian energy, at the same time that Moscow has cut off or shut down three of its largest gas pipelines to the west and redirected the flow of oil to the east.
Russian gas giant Gazprom said on Friday that the Nord Stream 1 pipeline, the main supply route to Europe, would remain closed indefinitely because a turbine at a compressor station leaked engine oil, sending gas prices skyrocketing. gas in the wholesale market.
Asked if Nord Stream 1 would resume pumping if sanctions were eased, Kremlin spokesman Dmitri Peskov said: “Definitely.”
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
