EXPLAINER: Europe struggles to cope with Russia gas shutoffs
Europe is struggling to contain an energy crisis as Russia throttles back supplies of natural gas
FRANKFURT, Germany (AP) — Europe is facing an energy crisis that is squeezing ordinary people’s finances and in just a few weeks could mushroom into rolling blackouts and factory shutdowns. Already, many economists say a recession is on the way.
The cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years to run factories, generate electricity and heat homes. That has pushed European governments into a desperate scramble for new supplies and for ways to blunt the impact as economic growth slows and household utility bills rise.
On leaders’ plate right now: how to cushion the blow to the poor, who are hit the hardest by higher electricity, gas and food bills, and how to calm electricity and gas markets that have gone haywire, with fluctuating price increases of more than tenfold.
Here is the latest on Europe’s efforts to avoid a total energy disaster:
