4 min read.Updated: 29 Aug 2022, 02:09 PM ISTRishi Joshi
Russia continues to cut natural gas supplies to Europe, sending energy prices soaring. It could trigger a recession.
Listen to this article
As the stock market frets over the US Federal Reserve’s hawkish stance on inflation, another deep crisis is brewing in Europe. There are concerns that Vladimir Putin is pushing Europe towards a possible recession by triggering an energy crisis in the continent. Russia has drastically cut natural gas supplies to Europe, sending energy prices soaring. In pockets of Europe, many are slipping into “fuel poverty", with household budgets getting squeezed and businesses getting stretched. Russia now plans to shut its Nord Stream 1 gas pipeline to Europe from 31 August to 2 September for “maintenance work".
Recommended For You
Select your Category
Internet Not Available
Wait for it…
Log in to our website to save your bookmarks. It'll just take a moment.