The latest on the Russia–Ukraine crisis, April 27. Click here for updates from April 26.
Russia Cuts Off Gas, European Prices Spike
European gas prices have spiked by as much as 24% following Gazprom’s statement that it was suspending deliveries to Poland and Bulgaria starting Wednesday because it hasn’t received any payments from them since April 1. Benchmark Dutch futures traded at one point around 125 euros per megawatt hour.
Fatih Birol, the executive director of the Paris-based International Energy Agency, tweeted Wednesday morning that his organization “stands firmly with Poland.”
“Gazprom’s move to completely shut off gas supplies to Poland is yet another sign of Russia’s politicisation of existing agreements & will only accelerate European efforts to move away from Russian energy supplies,” he wrote.
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