Gazprom Threatens to Reduce Gas Flows to Europe Via Ukraine
- Prices rise as much as 5.2%, traders were braced for cuts
- Gazprom cites dispute over Moldova as reason for move
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Gazprom PJSC threatened to cut its gas flows sent via Ukraine next week, just as cold winter temperatures prompt Europeans to start tapping their stores.
The Ukraine route is the last remaining pipeline still bringing Russian gas to western Europe as Moscow has progressively squeezed supplies to the continent since before the war. Traders and policy makers have been bracing for flows on that line to be curbed too, and prices rose as much as 5.2% on the news, while a few months ago the move could have been much more dramatic.