Explained: Russia has cut gas supplies to Europe; what happens now? | Explained News,The Indian Express

The EU, which before the war got some 40% of its gas from Russia, has outlined plans to cut imports by two-thirds by the end of the year, and to phase out Russian gas entirely by 2027.

European leaders and businesses are sweating over fears that Russia’s manipulation of natural gas supplies will lead to an economic and political crisis next winter or perhaps sooner. Here are key things to know about the energy pressure game over the war in Ukraine.

What has happened?

Russia last week reduced gas supplies to five European Union (EU) countries, including Germany, the biggest economy of the bloc that is heavily dependent on Moscow’s gas to generate electricity and power industry.

Russian state-owned energy giant Gazprom has cut supplies through the Nord Stream 1 pipeline running under the Baltic Sea from Russia to Germany — Europe’s major natural gas pipeline — by 60%. Italy is seeing its supply cut by half. Austria, the Czech Republic, and Slovakia too have seen supply cuts.

This comes on top of gas shutoffs to Poland, Bulgaria, Denmark, Finland, France, and the Netherlands in recent weeks. Those shutoffs were initially seen as less of a problem because Poland, for instance, was already phasing out Russian gas by the end of the year, while others had alternative supplies.

https://indianexpress.com/article/explained/explained-russia-cut-gas-supplies-europe-7982615/

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