Russia Offers to Ease Europe’s Gas Crisis, With Strings Attached

Putin intervenes in market on day when prices jumped 40% Nord Stream 2 could help stabilize Europe’s market, says Nova

With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower.

On a chaotic day that saw European benchmark gas surge 40% in a few minutes, Putin eased prices by offering to help stabilize the situation. Russia could potentially export record volumes of the vital fuel to the continent this year, he said.

Quick certification of the controversial Nord Stream 2 natural gas pipeline would be one way to achieve this, according to Deputy Prime Minister Alexander Novak.

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