Make no bones about it, the EU is in an energy crisis.

Russia is politicizing energy policy by choking off supply and causing prices to skyrocket, hurting households and shuttering small businesses.

An emergency meeting was held in Brussels, but what came of it?

Time for a 🧵

Instability in our energy complex has been shocking global markets, sending gas prices from Asia to the US higher amid a race and intense competition for supply.

Russia has been dragging its feet by limiting capacity sent through a critical pipeline: Nord Stream 1.

Nord Stream 1 stretches 1,200km under the Baltic Sea from the Russian coast near St. Petersburg all the way to north-eastern Germany.

It is owned and operated by Nord Stream AG, whose majority shareholder is the Russian state-owned company Gazprom.

Want more?

Subscribe to GRIT 👇

The #1 FREE Finance newsletter on Substack!

No comments yetBe the first to add your insight!

Author

Related