European Union countries will have to put up with the increased cost of gas as Russia has completely withheld gas supplies to Europe via a major pipeline Nord Stream 1 pipeline.
According to Russia, the pipeline needs repairs which are expected to take three days.
Russia has already begun the process of reducing gas supply to this nation, and winter is coming with many homes using natural gas for heating thus reduction of this commodity projects a fatal crisis to the targeted nation.
The steep rise threatens to birth a cost of living crisis over the winter months, greatly forcing governments to allocate billions to ease the burden.
Russia has also distanced itself from accusations that it has used energy supplies to progress war against Western countries.
The pipeline was again shut down for 10 days in July for repairs, according to Russia – and has recently been operating at just 20 per cent capacity because of what Russia describes as faulty equipment.
In recent months, Gazprom has slashed flows through Nord Stream 1 to just 20 per cent of capacity citing maintenance issues and blaming Western sanctions on exports of technology imposed in response to Russia’s invasion of Ukraine.
Speaking to the media the German Economy Minister Robert Habeck says the move has already forced some German companies to stop production, a development he said was “alarming”.
“It’s not good news, because it can mean that the industries in question aren’t just being restructured but are experiencing a rupture – a structural rupture, one that is happening under enormous pressure,” Habeck said.
The Nord Stream 1 pipeline stretches 1,200km (745 miles) under the Baltic Sea from the Russian coast near St Petersburg to north-eastern Germany
Reducing the flow of gas to this nation has led to an increase in the cost of living which has taken centre stage for these economies.