Russia's move 'makes it clearer than ever that Europe needs to move quickly to reduce its reliance on Russian energy,' said the head of the International Energy Agency.
Wednesday that Russia's move"could eventually force targeted nations to ration gas and deal another blow to economies suffering from rising prices."added."Natural gas prices in Europe shot up 25% before the market opened Wednesday and then eased off but remained significantly higher.
Prior to Russia's full-scale assault on Ukraine, the European Union relied on Russia for around 40% of its gas supply and 27% of its oil imports, dependence that initially left E.U. members hesitant to target the Russian fossil fuel industry. Last month, the Biden administration announced that it would take steps to increase U.S. gas exports to E.U. nations as they attempt to wean themselves off Russian fossil fuels. The U.S. move, which climate advocates
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Europe Seeks to Move Away From Russian Gas, Which Clean-Energy Technologies Will Benefit?Europe is seeking to swiftly curtail its reliance on Russian natural gas, which last year accounted for about 40% of the bloc’s gas consumption, amid outrage over Russia’s invasion of Ukraine and supply worries
Read more »
Euro and pound touch new lows after Russia cuts off energy supplies to Poland and BulgariaThe pressure on the euro and British pound continued on Wednesday, with Russia's cutting off natural-gas supplies to Poland and Bulgaria further fanning...
Read more »
Russia frees jailed US Marine Trevor Reed in exchange for convicted Russian drug traffickerThe U.S. and Russia have carried out a prisoner swap Wednesday, exchanging Trevor Reed -- a Marine veteran jailed in Moscow -- for a Russian drug trafficker who has been serving time in America, a senior U.S. official told the Associated Press.
Read more »
Europe Cancels Joint Moon Missions with RussiaRussia will move forward with lunar exploration without its European partners
Read more »
Explosions rock Moldova after Russia suggests it could be its next target in EuropeAt least two blasts this morning targeted radio antennas that broadcast Russian programs in Maiac, a town around 7 miles from Moldova’s border with Ukraine, according to officials in the Trans-Dniester region.
Read more »
John Legend on 'Embracing the Vegas Energy' in New Residency ShowJohn Legend kicked off his residency in Sin City and is giving fans the musical experience of a lifetime in his new show, 'Love In Las Vegas.'
Read more »