World News / 27 July 2022
Russia squeezes gas supplies to Europe
Ukrainian President Volodymyr Zelensky has accused Russia of orchestrating “gas blackmail” against Europe as it confirmed more supply cuts to its main export pipeline to the continent. Europe imported about 40% of its gas from Russia last year, but supplies through its Nord Stream 1 pipeline into Germany dropped to 40% capacity in June. And yesterday, that was cut even further to 20% due to alleged maintenance issues. Experts say Russia could be getting ready to turn off supply as the Northern Hemisphere heads into winter. That’s left many European nations already dealing with high energy prices to scramble to find enough supply. Overnight, European Union members have agreed to cut gas consumption by 15% over the next 7 months, although there are a lot of exemptions… Hungary, which has close ties to Russia, is the only country to reject the deal.
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