Energy

Russia ‘took advantage’ of Europe’s energy crisis

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Russia did not cause Europe’s energy crisis — but it didn’t help, and instead tried to benefit from the situation, according to Amos Hochstein, the U.S. State Department’s senior advisor for global energy security.

“It sure didn’t do anything that it could to alleviate [the energy crunch], and in fact, took advantage of it,” Hochstein told CNBC’s Hadley Gamble on Wednesday.

Russia chose not to send additional natural gas supplies to Europe for November despite saying it is ready to help, auction results in October showed.

Gas prices in Europe hit record highs in October on the back of surging demand, lower than usual inventories and limited supply.

Russia started pumping less gas to Europe…



Source cnbc.com

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