Europe could be left in the cold as IEA warns of a complete cut off from Russian gas

Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage amid the Ukraine crisis, the head of the International Energy Agency (IEA) said.

Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage amid the Ukraine crisis, the head of the International Energy Agency says, adding that Europe needs to prepare now.Russia is in the process of rerouting its energy exports to BRICS countries

"This is the reason Europe needs contingency plans," Mr Birol added, saying a recent reduction in flows may be an attempt to gain political leverage ahead of higher-demand winter months.The European Union has sanctioned Russian oil and coal, but has held off from banning gas imports, due in part to its heavy reliance on supplies from Moscow.

"Today's oil and gas spending is caught between two visions of the future: It is too high for a pathway aligned with limiting global warming to 1.5 degrees C but not enough to satisfy rising demand in a scenario where governments stick with today's policy settings and fail to deliver on their climate pledges," the agency said.

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