Commodities
Europe Struggles with Soaring Gas Prices Amid Russian Supply Cuts
Europe's natural gas prices have skyrocketed to their highest levels since late 2022 due to supply disruptions caused by the Iran war and closure of the Strait of Hormuz.
Kremlin spokesman Dmitry Peskov claims that European countries are undermining themselves by buying expensive spot gas instead of relying on lower-priced Russian pipeline supplies.
The Kremlin's perspective is that Europe is in a difficult position, facing rising energy costs and opting for costly spot market gas over cheaper Russian supplies.