After the invasion of Ukraine, Russia, which uses energy as a weapon, has cut gas supplies to Latvia.
As the energy crisis escalates in Europe, which is experiencing record-breaking summer heat due to gas supply cutoffs, countries have come to a standstill.
Connect with reporters from the International Department. Reporter Lee Seung-hoon!
Russia’s state-owned gas company Gazprom has stopped supplying gas to Latvia in Eastern Europe?
Gazprom announced on Telegram that it will stop supplying gas to Latvia from today.
The decision comes a day after Russia announced that Latvian energy companies were buying Russian gas in euros instead of rubles.
Earlier in March, when full-scale Western sanctions began, Russia announced that it would stop supplying gas unless payment was made in rubles.
Russia has a lot of natural gas pipelines going to Europe locked right now, right?
Gazprom has stopped supplying gas to Poland, Bulgaria, Finland, Denmark and the Netherlands for the same reason.
In addition, due to equipment inspection, the supply of natural gas through Nordstream-1, a gas pipe that directly connects Russia and Germany, was limited to 40% of the usual level.
Since the 27th, it has been reduced to 20%, which is half that level again.
Europe, which is already suffering from the excruciating summer heat, must have increased the operation of air conditioners. Literally an energy emergency?
As the energy crisis escalates, in Spain, the prime minister himself has come forward to appeal to office workers not to wear a tie.
The conservative British House of Commons has also decided to take off the suit jacket.
In some parts of Germany, hot water is banned in public buildings, swimming pools, sports centers, etc.
Each country has come up with emergency measures one after another.
The voice of ‘energy saving’ is getting louder in the energy crisis.
What worries me about the current energy crisis is the impact of the current energy shortage on the European economy.
How is the European economy now?
The European economy appears to have performed well in numbers despite the recent energy crisis.
In the 19 countries that use the euro, the eurozone’s gross domestic product increased by 0.7% in the second quarter compared to the first quarter.
However, it is unclear whether this trend will continue in the second half of the year due to the successive cuts in natural gas supply in Russia.
There is even a prospect that Europe will not be able to survive this winter without an ‘energy ration system’.
European companies are already feeling that economic activity is shrinking, and industries that rely heavily on natural gas are starting to prepare for the worst situation.
The biggest concern is the upcoming winter, when energy consumption is high.
Red lights are lit everywhere, indicating that consumer sentiment is already shrinking due to the expected winter energy crisis.
Until now, this is Seunghoon Lee of YTN in the international department.
YTN Lee Seung-hoon (firstname.lastname@example.org)
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