September 27, 2022
From: Counting the Price

Vladimir Putin threatens to let Europe ‘freeze’ by reducing power provides if value caps are imposed.

An all-out power conflict between Russia and the West threatens to deepen Europe’s power disaster, placing stress on governments to make interventions within the power market to rein in hovering costs.

But it surely additionally places the Kremlin’s revenues in danger and is supposed to stem the stream of funds into its conflict coffers.

Moscow’s earnings from power exports are anticipated to rise by 38 % this 12 months. Western capitals say they need to reduce off that monetary lifeline. The G7 have agreed to cap the worth of Russian oil, and the European Union plans a cap on Russian gasoline costs, too.

In response, the Russian president stated he’ll “freeze” European nations if the worth caps are imposed.

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