- Germany Elevates Risk Level In Its “National Gas Emergency Plan” To Second-Highest “Alarm” Phase
by Tyler Durden, https://www.zerohedge.com/
European natural gas and power prices surged after Germany triggered the “alarm stage” of its NatGas-emergency plan amid reductions in supplies from Russia, according to Reuters. German Economy Minister Robert Habeck said Europe’s largest economy is in a severe energy crisis. He warned Germany should prepare for further cuts in Russian NatGas flows after Moscow recently slashed deliveries via the Nord Stream pipeline.
“We must not fool ourselves: The cut in gas supplies is an economic attack on us by Putin,” Habeck said. “It is obviously Putin’s strategy to create insecurity, drive up prices and divide us as a society. This is what we are fighting against,” he continued.