Berlin, Reuters. Russia’s move to cut natural gas has created problems for Europe in just a week. Germany, the world’s fourth-largest economy, declared a second level of emergency on Thursday. Due to this, economical steps will be taken in the use of gas. If the situation does not improve, then rationing of gas can also be done soon. Germany has accused Russia of carrying out an economic attack.

12 countries of Europe affected, ten countries in trouble

A dozen countries under the European Union (EU) have been badly hit by Russian gas cuts. Ten of these have issued warnings to consumers. Whereas in just seven days, three countries have reached the stage of crisis. This information has been given by the EU’s head of environmental affairs, France Timmermans. He said, Russia is using gas as a weapon while Russia has denied it. It may be noted that Russia has already cut off gas supplies to Poland, Bulgaria, the Netherlands, Denmark and Finland due to non-payment in rubles.

Russia cuts gas supply by 40 percent

Russia last week cut gas supplies to Europe through the Nord Stream One pipeline by 40 percent. There has also been a complaint of reduction in the pressure of the gas being supplied on Thursday. This is causing problems in the movement of gas. Due to this France is finding it difficult to get gas. Italy is not getting enough gas from Russia despite repeated requests. Germany, France and Italy are members of the G7 group of the world’s most prosperous countries. If their economy weakens, it can have an impact on the global economy.

gas price skyrocketed

Russia’s move to cut gas supplies has created a gas shortage in Europe, as well as skyrocketing gas prices. In Europe, gas is mainly used for energy production. Germany’s Economic Affairs Minister Robert Hebeck has said that we can no longer fool ourselves. Putin (Russian President) has launched an economic attack on us. Now we have to find a way out of it. Habek has not ruled out the option of gas rationing. He has also appealed to the people to reduce the use of gas.

Fear of global recession if the situation worsens

Habek has feared the effects of the US bank Lehman Brothers failing due to gas supply cuts. After the failure of this bank, many banks in America were ruined and in 2008 there was a global recession. Germany’s energy provider Ean has said that issuing a warning is not going to change anything immediately. Now the government is watching what steps it takes to keep the market and gas supply stable and orderly. The European Union, along with the US, has imposed various sanctions on Russia in protest against the Ukraine war. It is believed that the cut in gas supply by Russia is the answer to that. This has further increased tensions between Europe and Russia.

Edited By: Arun Kumar Singh