Russia has scrapped plans to reopen a significant pipeline that sends pure fuel to Europe.
The determination by Gazprom, a state-controlled agency, will make it harder for Europe to safe gas forward of the winter.
Gazprom mentioned the Nord Stream 1 pipeline would stay closed due to a leak in the primary fuel turbine, though Siemens Energy – which often providers the generators – mentioned such a leak mustn’t forestall operation.
Both Europe and the US National Security Council have accused Russia of utilizing fuel as a “weapon against consumers”.
But earlier, European Council President Charles Michel vowed: “Use of gas as a weapon will not change the resolve of the EU.”
Wholesale fuel costs have climbed 400% since August final yr – bringing distress to households and companies in Europe, the place dependence on Russian power has traditionally been excessive.
Also on Friday, G7 finance ministers agreed to impose a value cap on Russian oil exports to make it tougher for Vladimir Putin to fund his invasion of Ukraine.
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Despite promoting much less oil for the reason that struggle started, Russia made £600m extra from oil gross sales in June than it did within the earlier month due to rocketing costs pushed up by the struggle.
British Chancellor Nadhim Zahawi mentioned the worth cap would additionally carry world value stability that may “protect our citizens from oil price shocks next year”.
He added: “It will mean that Putin can’t profiteer from excessively high oil prices and of course, protect all of us from oil price shocks next year and beyond.”
Ukrainian President Volodymyr Zelenskyy, who has persistently referred to as for harder sanctions on Russia, mentioned the transfer “will not only limit the flow of petrodollars and gas euros to Moscow, but also, importantly, restore justice for all Europeans, whom Russia is trying to blackmail with artificially inflated prices on the energy market”.
But former Russian president Dmitry Medvedev wrote on Telegram that Moscow would retaliate by turning off provides to Europe fully, saying: “There will simply be no Russian gas in Europe.”
Germany, some of the reliant on Russian power, has been getting ready for a minimize to fuel provides and its community regulator has warned residents and business to chop consumption.
Source: information.sky.com”