Putin says not weaponising gas amid energy crunch in Europe – Times of India

MOSCOW/ BRUSSELS/ BEIJING: President Vladimir Putin stated on Wednesday Russia was not utilizing gas as a weapon and was prepared to assist ease Europe’s energy crunch because the EU referred to as an emergency summit on October 26 to sort out skyrocketing costs. Energy demand has surged as economies have rebounded from the pandemic, driving up costs of oil, gas and coal, stoking inflationary pressures and undermining efforts to chop the use of polluting fossil fuels in the combat in opposition to world warming.
China has boosted coal output and imports as home coal costs have hit document ranges and energy stations have struggled to maintain the lights on in houses and factories. The energy crunch has amplified Wednesday’s name by the International Energy Agency (IEA) for tripling funding in renewables to regular markets and combat local weather change.
Europe’s gas squeeze has shone a highlight on Russia, which accounts for a 3rd of the area’s provides, prompting European politicians accountable Moscow for not pumping sufficient. Putin informed an energy convention in Moscow that Russia was assembly its contractual obligations to produce purchasers and was prepared to spice up provides if requested. He dismissed accusations that Russia was utilizing energy as a weapon: “This is just politically motivated chatter, which has no basis whatsoever.”
Russia and Europe have been embroiled in a dispute over a brand new pipeline, Nord Stream 2, to produce Russian gas to Germany. The pipeline is constructed however awaits approval to begin pumping, amid opposition from the US and a few Europeans nations which worry it can make Europe much more reliant on Russia. Some European politicians say Moscow is utilizing the gas disaster as leverage, a cost it has repeatedly denied. The European Commission outlined measures on Wednesday that the EU would take to fight the energy disaster, together with exploring joint gas buying.

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