However, the UK’s trade balance is still in trouble as foreign gas prices rise.
UK cuts out Putin as Russian energy imports drop to zero
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.
Gazprom says it halts gas supplies to Latvia
Gazprom, a Russian gas producer, said Saturday that it had stopped supplying Latvian gas to its neighbours. It accused Latvia of violating gas withdrawal conditions.
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.
Kremlin to Keep Up Its Gas Squeeze on Europe, Germany calls for lower consumption
Nord Stream 1 gas flows fell to a fifth of their capacity Wednesday. This prompted Germany’s network regulator, to appeal to the industry and households to conserve gas and avoid
Russia tightened its gas squeeze on Europe on Monday
Putin cut off gas supplies to Europe via the Nord Stream pipeline, just days after resuming flows. This is a sign of Europe’s growing energy crisis.
Russia threatens to slash gas supplies through Nord Stream pipeline by 80%
Gazprom, Russia’s largest gas company, stated Wednesday that it still has not received the documentation from Siemens required for reinstalling a turbine in Nord Stream 1 for its gas pipeline.
EU prepares to reduce demand in preparation for Russian gas cut
On Wednesday, the European Union will present emergency plans to reduce gas demand in three months.
European Commission doesn’t expect Nord Stream 1 to restart on Thursday
According to the Wall Street Journal, European Budget Commissioner Johannes Hahn stated that the European Commission doesn’t expect Nord Stream 1 to resume normal operations after the annual 10-day maintenance.
