Putin sends EU terrifying warning as gas prices soar and Russia troops amass on doorstep | Science | News

The Kremlin said Europe is paying the price because of its failure to sign long-term supply contracts and could ease the pressure by ending delays to the Nord Stream 2 gas pipeline.

The controversial line runs from Russia to Germany, bypassing Poland and Ukraine, and many have claimed it is being used as a “geopolitical weapon”.

It comes as Europe’s benchmark gas price climbed to a new record on Tuesday, up almost 800 percent since the start of the year. The price eased on Friday but it was still up more than 400 percent.

This is a breaking story. More to follow.

Now Russia has signalled that things could get worse if the EU does not bow to their requests.

Russian Deputy Prime Minister Alexander Novak said Europe was missing out on additional Russian supplies because of delays to Nord Stream 2.

He added: “To my mind, European consumers are very interested in the project to start working, while the companies, which participate in it, they could have submitted additional requests as part of long-term relations on gas supplies via this new gas pipeline.

He also said European leaders had made mistakes in reducing the use of long-term supply deals in favour of the spot market.

Mr Novak added: “The countries, which receive gas via the long-term deals, they receive it much cheaper.”

Source link