Fitch warns that a complete shut-off of Russian gas supplies is increasingly possible, which could lead to the eurozone being driven into recession.
Russia adds to Europe’s energy crisis with a new gas halt
Russia stopped gas supplies through Europe’s main supply route on Wednesday. This intensified the economic struggle between Moscow and Brussels and raised the prospect of energy rationing and recession in
Kremlin-controlled Gazprom slashes gas supplies to France
Gazprom informed Engie, a French utility, that it would reduce gas deliveries starting today because of a dispute over the application of certain contracts.
Germany’s Uniper will restart a coal-fired power station after Gazprom cuts off supply to Europe
Uniper SE, a German utility, said that it will produce electricity for the market at Heyden 4’s hard-coal-fired power station. This is in response to a three-day Russian gas supply
Nord Stream 1 pipeline will be shut down for three days dealing the latest fuel blow to Europe
Russia will stop natural gas supplies to Europe for three consecutive days at the end of the month via its main pipeline to the region, Gazprom, the state energy giant,
Putin suffers as Russian gas exports slow, Gazprom has seen production drop as it tries to find buyers
Gazprom may have to close its gas fields if it is unable to divert supplies toward China.
Russia’s Gazprom warns that European gas prices could rise another 60%
Gazprom, a Russian state gas company, stated Tuesday that European gas prices could rise by 60% to over $4,000 per 1,000 cubic meters this winter as European exports and production
UK cuts out Putin as Russian energy imports drop to zero
However, the UK’s trade balance is still in trouble as foreign gas prices rise.
Putin’s War Resets His Economy Four Years Back in One Quarter
The invasion of Ukraine by President Vladimir Putin set Russia’s economy back for four years, even though it was less severe than originally feared.
Despite Putin’s propaganda, the Russian economy is ‘crippled on every level’
Experts say that Western sanctions are “catastrophically” affecting Russia’s economy, despite Vladimir Putin’s attempts to conceal the damage.
UK Energy Bills Set to Peak Above £500 This Winter in January. This is more than three times the level of last year
As Russia tightens its grip on Europe’s gas supplies, the UK is set to experience record-breaking energy prices this winter. This will only add to Britain’s current cost-of-living crisis.
EU nations starting to echo the tensions that divided northern and southern member states
Russia’s gas cut could fracture the unity of Europe’s Union this winter, as tight budgets and supply issues limit the bloc’s ability to deal with an unexpected, severe energy shortage.