Energy
Europe Falters on Exiting Russian Gas, Sending Prices Plunging
Pipelines from a natural gas field on the Yamal Peninsula in Russia.
Photographer: BloombergThis article is for subscribers only.
Europe’s push to ramp up defense capabilities after President Donald Trump pulled back US support for Ukraine’s security has left another one of its ambitions by the wayside for now: getting rid of Russian energy.
Benchmark gas futures for the region headed toward their fourth weekly loss as speculation mounted that Russian fuel may continue to feature in Europe’s energy mix. The region’s leaders delayed plans to limit and eventually phase out Russian fuel imports this week, while rushing to garner support for Ukraine and ramp up the defense industry.