Russia’s state-owned natural gas company Gazprom has seen its market value drop by nearly 90 percent over the past six years, and it has itself to blame. As the FT reports, Gazprom’s decision (twice) to turn off gas to Ukraine in recent winters has pushed Europe into seeking ways to blunt Putin’s energy weapon:
The cut-offs sparked efforts by EU authorities and member states to complete the creation of a European single market in energy, diversify sources of gas, and reduce reliance on Russia. Brussels became cautious towards new Russian pipelines. The shift intensified friction with Gazprom. It blamed Kiev for …read more
Source: The American Interest
