An EU move to ditch oil-linked gas contracts paid off when gas was in ample supply but will cost bloc members an estimated $30 billion this year
For years, the European Union tried to loosen Russia’s iron grip on its gas supplies by fostering a competitive import market.
Those efforts have boomeranged this year as supplies run short, setting offEuropean energy ministers met Tuesday to address the shortage, which is stinging homeowners and lifting prices for goods from metals to fertilizers. But there is little they can do to boost supplies immediately, and Russia isn’t helping.
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