HomeWorldUSReal Time Updates: Russia's War in Ukraine

Real Time Updates: Russia’s War in Ukraine

BUT general view of underground storage of natural gas “Astora” on 12 May in Rehden, Germany. Russia has announced sanctions against dozens of Western energy companies, including Gazprom Germany, of of which Astora is a subsidiary. (David Hecker/Getty Images)

Russia’s increasingly aggressive actions against its European gas consumers are suffering losses. Export of natural gas from the country decreased by more how quarter From January. But the Russian treasury has been bolstered by rising prices as it continues to cut spending. off supplies.

Moscow exports gas to countries outside of his Commonwealth of independent states, including 11 countries in Central Asia and Eastern Europe fell by almost 28% in in first five months of 2022, Russian state energy giant Gazprom (GZPFY) said. on Wednesday.

While Gazprom has reduced off at least 20 billion cubic meters of annual volume of gas supplies to consumers in six European countries – Poland, Bulgaria, Finland, Denmark, Germany and the Netherlands – because they failed make payments in rubles, and demand President Vladimir Putin made back in March.

This is almost 13% of European Union total annual gas imports from Russia, according to the International Energy Agency.

But James Huckstepp, head of An EMEA gas analyst at S&P Global Commodity Insights told CNN Business that gas prices have risen to an average of €96 per MWh ($102) in 2022 from last year.

How result”hardly [Russia] will see significantly less revenue until further cuts are made made” said Huxstepp.

Read full story:

Why Russia does not suffer, even when it cuts off European gas

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Tyler Hromadka
Tyler Hromadka
Tyler is working as the Author at World Weekly News. He has a love for writing and have been writing for a few years now as a free-lancer.

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