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Commodities Briefing - Categorized | Energy, Market Moves more

Europe faces energy crisis as Vladimir Putin cuts Russian gas supply

Posted on 06 January 2009

From Telegraph: Europe has been plunged into an energy crisis after Vladimir Putin ordered Russia’s state-run gas company to cut supplies by 20 per cent.

As temperatures dropped below zero across much of Europe, the Russian prime minister instructed the head of Gazprom: “Cut it - starting today.” The cut was ordered to punish neighbouring Ukraine, which Russia accuses of topping up its own gas supply by siphoning off energy meant for European consumers and sent through its pipelines….. Full Article: Source


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