"Europe is facing a gas shortage crisis, which is pushing up prices for other commodities across the continent, including foodstuffs, in part because of tensions in Eastern Europe and Russia's delivery to the EU

"Europe is facing a gas shortage crisis, which is pushing up prices for other commodities across the continent, including foodstuffs, in part due to tensions in Eastern Europe and the decline in Russian gas shipments to the EU." Iranian media reported on Feb. 10 that "certain European countries are experiencing massive gas and energy price increases, such as the Uk, while also contributing to inflation." Tensions between the West and Russia remain high, with the United States and its allies accusing the so-called "Russian invasion of Ukraine," while Russia denies all allegations. Tensions have begun to hurt Europe, which relies heavily on Russian gas. The threat of U.S. sanctions against Russia has raised fears of supply disruptions in the demand for energy markets. "Cold winters, low gas storage, high energy prices in the EU, increased demand in Asia, reduced LNG tanker deliveries, below-normal Russian gas supplies, and infrastructure disruptions are all reasons why Europe is facing a potential energy crisis." "Much of the crisis now is caused by the EU itself, as European countries have left their repositories empty: gas prices in the Netherlands rose 330 percent last year, while electricity price contracts in Germany and France more than doubled," Iranian media said. The UK is facing an increase in inflation not seen in the past three years. A large retail company is now warning that the worst has yet to come. The UK's largest retailer said: "The price of its products is likely to rise by 5% in the coming months." The company blamed the situation on rising energy bills. The Bank of England will raise interest rates for the second time in three months after predicting a peak inflation of 7% in April. "What European countries cannot deny is that they need Russian gas. In Germany, for example, the Nord Stream-2 gas pipeline project is expected to be put into operation. If the Nord Stream-2 gas pipeline project goes live, it will benefit 26 million German households, but the United States could prevent that from happening. Some NATO members reluctantly support the United States in this regard, and European countries will have to bear the consequences of tensions, while the United States "reaps the benefits of the fisherman". #Europe ##天然气 #