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European economies are harmed by the Russian gas cutoff, while Ukraine reports attacks on coastal districts

European

European economies are harmed by the Russian gas cutoff, while Ukraine reports attacks on coastal districts

  • In a blow to nations that have supported Ukraine, Russia warned it will limit gas supplies to Europe starting on Wednesday.
  • Meanwhile, missile attacks in Black Sea coastal regions have raised questions about whether Russia will uphold a pact to permit Ukraine to export food.
  • No casualties or injuries have been reported.

In a blow to nations that have supported Ukraine, Russia warned it will limit gas supplies to Europe starting on Wednesday. Meanwhile, missile attacks in Black Sea coastal regions have raised questions about whether Russia will uphold a pact to permit Ukraine to export food.

Despite a Russian missile strike on the Ukrainian port of Odesa over the weekend and a military administration spokesperson claiming another missile hit the Odesa region on Tuesday morning, the United Nations said the first ships from Ukraine may set sail in days as part of a deal reached on Friday.

Soaring energy costs and the threat of hunger faced by millions in poorer nations show how the biggest conflict in Europe since World War Two, now in its sixth month, is having an impact far beyond Ukraine.

European Union countries are set to approve on Tuesday a weakened emergency proposal to curb their gas demand as they try to wean themselves off Russian energy and prepare for a possible total cut-off.

On Tuesday, the Ukrainian military announced that Russian cruise missiles had struck targets in the south and that Ukrainian forces had also struck back. A missile fired from the direction of the Black Sea struck the area, according to Serhiy Bratchuk, a spokesman for the military administration in Odesa, who did not provide any details on casualties.

According to the mayor Oleksandr Senkevich, an attack on the port infrastructure at Mykolaiv along the Black Sea coast east of Odesa destroyed it.

An after-hours request for comment was not immediately answered by the Russian defence ministry.

A major fire broke out at an oil depot in the Budyonnovsky district of Russian-backed Donetsk People’s Republic in eastern Ukraine after Ukrainian troops shelled the province, Russia’s TASS reported, quoting a reporter at the scene. No casualties or injuries have been reported.

Russian energy giant Gazprom (GAZP.MM), citing instructions from an industry watchdog, on Monday said gas flows to Germany through the Nord Stream 1 pipeline would fall to 33 million cubic metres per day from Wednesday.

That is half of the current flows, which are already only 40% of normal capacity. Prior to the war, Europe imported about 40% of its gas and 30% of its oil from Russia

The Kremlin claims that maintenance issues and Western sanctions are to blame for the gas outage, but the European Union has charged Russia with energy extortion.

Russia could shut off gas this winter, according to European politicians, which would put Germany into a recession and damage customers already suffering from skyrocketing inflation.

Moscow asserts that it is not keen on the gas supply to Europe being completely cut off.

The Ukrainian national pipeline operator firm reported that Russian gas giant Gazprom (GAZP.MM) abruptly boosted pressure in a pipeline that passes through Ukraine to carry Russian gas to Europe, adding to worries on the energy front.

Pipeline operators are required to notify one another in advance of such pressure surges because they may result in crises such as pipeline ruptures, according to the Ukrainian business. A comment from Gazprom could not be obtained right away.

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