In a measure of the dramatically reshaped relations between Russia and the West, Russian President Vladimir Putin on Monday scrapped plans for a major new natural gas pipeline to Europe, a surprise decision that came as the ruble slumped to an all-time low against the dollar.
The move deprives the Kremlin of a tool that would have increased Russian political influence over south-eastern Europe and detoured natural gas around Ukraine, leaving it more vulnerable to Russia. Putin’s decision came after European Union leaders intensified their opposition to the plans because of the grinding conflict in Ukraine.
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Source: Helsinki Times
