EU braced for 'very tight winter' as soaring gas prices threaten 'poverty crisis'

Mr Putin is hoping to avoid German Chancellor Angela Merkel from implementing EU law across the system, the reason for his restriction of gas flowing into Europe.

EU laws would force Russia to auction off access to the pipeline to third party regulators.

And with gas prices soaring too, it looks as though a gas supply crisis could be on the cards, according to some experts.

Alastair Syme, an analyst with the Citi group, said in a note: “The spectre of energy poverty may fall quickly across Europe this winter.”

The gas supply crunch is supposedly boosting the cost of producing power across Europe, just as lockdowns have started to end and business returns to normal.


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