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Kremlin: Russia Ready To Respond To Growing European Gas Need

EU-RUSSIA

BBG reporting comments from the Kremlin stating that Russia is ready to respond to the growing need for natural gas supplies in Europe. Also states that the prospect of US sanctions on energy projects (referring to Nord Stream II) could contribute to the destabilisation of Europe's energy market.

  • The UK gov't has criticised Russia for 'choking' gas supplies to achieve geopolitical aims. Earlier this morning a Downing St. spokesman said: ""Although Nord Stream II will not directly impact the UK's energy security, it could have serious implications for central and eastern European countries...[Russian gas-dependence raises] serious concerns about energy security."
  • Ukraine has also criticised NSII, arguing that the pipeline will allow Russia to reduce transit through Ukraine to Europe, resulting in slashed budget revenues for the gov't in Kyiv.
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