Putin’s Energy Gambit Fizzles as Warm Winter Saves Europe
- ‘Meltdown’ of European industry averted, Germany’s Habeck says
- Gas reserves are robust and prices are back at pre-war levels
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Russian President Vladimir Putin’s plans to squeeze Europe by weaponizing energy look to be fizzling at least for now.
Mild weather, a wider array of suppliers and efforts to reduce demand are helping, with gas reserves still nearly full and prices tumbling to pre-war levels. After the sharp turnaround over the past month, Europe is likely already through the worst of the crisis.