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British Secretary of State accuses Russia of manipulating gas prices

2021-10-11T20:21:25.107Z


Fear of a gas shortage is growing in Europe - the UK is particularly hard hit. State Secretary Theodore Agnew says Russia is putting pressure on it to accelerate the commissioning of Nord Stream 2.


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Nord Stream 2 logo on a component

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Maxim Shemetov / REUTERS

A British state secretary has blamed Moscow for the sharp rise in gas prices.

“The current rise in gas prices has nothing to do with the amount of gas available.

It is a geopolitical move by Russia to put pressure on Europe, «said Parliamentary State Secretary Theodore Agnew in the House of Lords on Monday.

Agnew was alluding to speculation that Russia could try to build up pressure through an artificial shortage of natural gas so that the controversial Baltic Sea pipeline Nord Stream 2 can be put into operation as quickly as possible.

Russian President Vladimir Putin said that the price was not due to Russia, but to the situation on the world market, among other things.

Multiple bankruptcies

Great Britain is particularly hard hit by the rise in gas prices because the country only has small reserves.

Private households in the Kingdom are protected from excessively high prices by a state cap.

In the meantime, however, several energy suppliers had to file for bankruptcy because they had to pass on gas for less than they bought it.

Companies that, unlike private households, do not benefit from a cap have been trying unsuccessfully for days to solicit support from the government.

In individual sectors, such as manufacturers of the CO₂ urgently needed in the food industry, the government stepped in to keep production running.

The EU states are also concerned about the skyrocketing natural gas prices (read more about the reasons here).

During the week, Chancellor Angela Merkel warned against taking wrong measures and hastily looking to Russia for responsibility, with a view to the sharp rise in energy prices.

Her advice is not to look for "solutions that are too simple" when it comes to the subject.

The subject will be returned to at the EU summit on October 21 and 22 in Brussels.

ngo / dpa

Source: spiegel

All business articles on 2021-10-11

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