Europe It is hit by an escalation of natural gas and electricity that has exceeded 10% this Monday, due to the latent conflict that threatens the borders between Russia and Ukraine.
As reported by the newspaper El País, an escalation of the war runs the risk of worsening the energy crisis in Europe, already besieged by the stoppage of activities as a result of COVID-19, which could affect gas and oil supplies, and increase the risk of blackouts.
Russia is Europe’s main source of natural gas, with about a third of its exports coming through Ukrainian pipelines. And Europe’s storage facilities are already running out with prices four times higher than normal for this time of year.
According to the Spanish media, the reference prices of gas in Europe have soared this morning by 15%, to 88 euros per megawatt-hour, although now they moderate the rise to 81.2 dollars. German electricity futures have risen as much as 11% to 177 euros per megawatt hour.
For his part, the president of the United States, Joe Biden, had an hour-long call with his Russian counterpart, Vladimir Putin, in which he did not seem to make much progress.
Biden then spoke with Ukrainian leader Volodymyr Zelenskiy, promising swift and decisive action if Russia were to invade the country. Meanwhile, Ukrainian Foreign Minister Dmytro Kuleba played down concerns, saying the situation remained under control.
Source: Larepublica
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