Kremlin Warns Europe Faces Consequences of Soaring Gas Prices

According to the International Desk of Webangah News Agency, European nations are confronting a difficult situation as natural gas prices have surged, according to Kremlin spokesperson Dmitry Peskov on Wednesday. Data published by Mehr News Agency, citing Reuters, reported Peskov’s remarks stating that European countries find themselves in a challenging predicament due to the escalating cost of natural gas.

The price of natural gas in Europe has seen a dramatic rise following the United States’ aggressive actions against Iran. Last week, European gas prices reached their highest point since late 2022. This period marked the beginning of the conflict in Ukraine, which prompted Europe to reduce its reliance on Russian pipeline gas.

Peskov asserted that Europe is harming itself by opting to buy expensive gas on spot markets rather than taking advantage of the cheaper Russian alternative. He added, “Europe is now facing the consequences of increased gas prices,” emphasizing that Russia remains capable of supplying gas to European countries at a lower cost.

The surge in energy prices in Europe is occurring amidst the ongoing conflict against Iran and related disruptions in the global energy market, which have heightened concerns regarding gas and oil supplies.