8/24/2023 0 Comments Money saving proRussia’s Foreign Minister Sergey Lavrov said that Russia is expanding its military objectives in Ukraine and that it wants to take control of the entire southern part of the country. Ukraine depends completely on western support and backing to withstand Russia’s onslaught. “The less support there is for Ukraine to continue this war, the more likely it is that Ukraine will come under some kind of pressure to reach some kind of ceasefire. “The more economic pain Europe suffers, the better it is for Russia because that will drive home the costs of supporting Ukraine as it defends itself against Russia’s invasion,” Keir Giles an expert from the Chatham House think tank told ITV News. Why is Russia doing this? Russia is one of the biggest energy suppliers in the world and can use this power as a tool to pressure governments over Ukraine. Gazprom resumed gas flows at 40% of normal capacity and announced this week that it was dropping gas flows again, to about 20% of the pipeline’s capacity, because of a ‘technical condition’ with a turbine engine.Ĭorrespondent Rebecca Barry examines whether Russia is using gas to retaliate against Western support for Ukraine Gazprom, the Russian company which is the main operator of the Nord Stream pipeline then shut the pipeline down for 10 days in July for annual maintenance. In June, Russia cut gas flows through this pipeline to 40% of normal capacity, saying there was an issue with the delayed return of a gas turbine because of western sanctions imposed by the EU and United States against Russia for invading Ukraine. Prices spiked most recently after Russia dropped the flow of gas through the Nord Stream pipeline which runs from Russia to Germany. Recently Russia restricted gas flows to Europe which have caused prices, which were already high, to rise further. ![]() The UK imports less than 4% of its gas from Russia but because energy markets are global, it is still affected by price rises. In May, after the Russian invasion of Ukraine, the EU agreed to ban all imports of Russian oil by sea by the end of the year.Ĭountries which are most reliant on Russian gas, such as Germany which imports about 55% of its gas from Russia, are particularly vulnerable to disruptions in supply. Russia supplies 40% of the EU’s natural gas via several pipelines running from Russia to Europe.Īs well as natural gas, Russia is the biggest supplier of oil to Europe. How does Russia's invasion of Ukraine affect your gas prices? ![]() Martin Lewis warns consumers there are 'very few solutions' to bringing their energy bills down and instead advises to try to start saving now for the winter Here's everything you need to know about the cause of the price hikes, what can be done about them and if there is a possibility of them coming down any time soon. It is steadily choking off supply lines amid the West's sanctions over the war in Ukraine. Russia, which is one of the biggest energy suppliers in the world, is largely behind the crippling price hikes. Mr Lewis urged the government to grasp the issue, adding: "What we need is a willingness to take action and to grasp this, to make sure there are millions of people in this country who don't face the choice between starvation and freezing this winter, and it's looking like that is a realistic choice if nothing is done for many." ![]() "The impact of it is frankly catastrophic and intervention is needed, and needed now," he said. This means Britons will see a £1,500 a year hike in bills which is "simply unaffordable for millions of homes" and is likely to put upwards of 10 million people into fuel poverty, Mr Lewis warns. The latest predictions estimate the energy price cap will increase by 77% on October 1 to £3,500, and in January next year it will rise even further. ![]() Money Saving Expert Martin Lewis has called on the government to urgently intervene on surging gas prices which will have a "frankly catastrophic" impact on millions of Britons later this year. Martin Lewis explains to ITV News the 'devastating' impact of the 'simply unaffordable' price hikes Britons are facing this autumn
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