After months of sanctions, Russia says it is cutting off the gas to Europe in a move that could have serious repercussions.
Europe relies heavily on Russia for its energy needs. In spite of that, the bloc has the international community in levying sanctions on Russia over its invasion of Ukraine. Russia is now blaming those sanctions for cutting off gas to Europe, saying they have led to maintenance issues of the Nord Stream 1 pipeline, according to Forbes.
Despite the pipeline closure, Kremlin spokesperson Dmitry Peskov said gas exports would resume if the sanctions were lifted, saying the sanction have “brought the situation to what we see now.”
According to Forbes, Europe’s gas reserves currently sit at 81.55%. The bloc set a goal of having its reserves at 80% by November 1, putting it ever slow slightly ahead of its target. With Russia cutting off supplies, however, it’s unclear if Europe will need to tap into those reserves immediately, lowering them below the target threshold going into winter.