Europe prepares to go cold Turkey on Russian gas

Even six months ago it was almost unthinkable that Moscow would cut off gas supplies to Berlin. Now that scenario is becoming the odds-on favorite.

Germany increased its gas on Thursday emergency situation at its second highest level. The change was not unexpected—Russian gas giant Gazpromo low current With the crucial Nord Stream 1 pipeline last week—but nonetheless—it signals Berlin’s growing concerns. European prices for liquefied-natural gas and electricity, which rose last week, took further gains.