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EU Braces for Possible Russian Retaliation on Gas

  • EU energy ministers discussed preparedness for disruptions
  • EU seeks to reduce dependence on imports of fuels from Russia
Bloomberg business news
Russian Energy Trade Will Be Disrupted: IHS’s Yergin

The European Union is preparing for any disruptions of natural gas supplies from Russia as it weighs the risk Moscow could halt shipments in retaliation for sanctions.

EU energy ministers discussed on Monday various supply-shock scenarios following Russia’s invasion of Ukraine. The emergency gathering took place days after a decision by Western governments to impose penalties on Russia’s central bank and to exclude some of the country’s banks from the SWIFT financial system.