As Belarus warns about a possible pipe-shutdown, gas prices are back on the rise

After President Alexander Lukasenko of Belarus threatened to close down the key pipeline connecting Russia and Europe, gas prices have risen once again.

This threat was made in response to EU sanctions on Lukashenko’s regime, amid an increasing migrant crisis at the Belarus-Poland border.

The Yamal-Europe pipeline crosses Poland and ends at Germany, which carries around 20 per cent of Russian gas to the bloc.

President Lukashenko didn’t mince his words on Thursday, saying: “We are heating Europe and they threaten us with closing the border.

“What if natural gas flow was cut off there?” I recommend that the leadership of Poland, Lithuanians, and other empty-headed people think before they speak.

As Russian gas flows resume, wholesale gas prices in Europe fall.

Gazprom announced Tuesday that it has begun pumping gas to five European underground storages in preparation for the November order.

Russia supplies a third of Europe’s gas, and its supply intentions are crucial at a time where spot prices have risen and hit both households and businesses in Europe. This underscores Europe’s dependence on Moscow for its energy supplies.

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