• Russia has issued a warning that it will not resume gas flows along a crucial pipeline to Europe until sanctions are lifted.
• The Nord Stream 1 pipeline was closed for three days for repairs, and Moscow has blamed Western nations for its closure.
• Gas prices in the UK rose by 35% before levelling down at just under £5 per therm.

Russia has issued a warning that until sanctions are eased, it would not restore gas shipments along a vital pipeline to Europe.

The Nord Stream 1 pipeline was closed for three days for repairs, and Moscow has blamed Western nations for its choice not to reopen it.

If sanctions were lifted, commodities would undoubtedly start flowing again, a Kremlin spokeswoman responded when questioned.

On Monday, gas prices increased as worries about the energy supply increased.

The European benchmark Dutch month-ahead wholesale gas price increased as much as 30% in early trading on Monday. Prior to levelling off at just under £5 per therm, prices in the UK increased by as much as 35%.

Russia has issued a warning that it will not resume gas flows along a crucial pipeline to Europe until sanctions are lifted.

Moscow has accused the West of being to blame for the three-day closure of the Nord Stream 1 pipeline for repairs.

Commodities will surely resume flowing if sanctions were relaxed, a Kremlin spokesperson said in response to a question.

Gas prices rose on Monday as concerns about the energy supply grew.

In early trade on Monday, the European benchmark Dutch month-ahead wholesale gas price surged by as much as 30%. Prices in the UK rose as much as 35% before levelling down at slightly under £5 per therm.

The Kremlin’s move to limit supplies to Europe has increased the cost of wholesale gas even though the UK is not dependent on Nord Stream 1 for its gas.

The surge in the price cap on energy bills for households in England, Wales, and Scotland is the result of the total increase.

For the increase in costs, Mr. Peskov criticised European leaders: “It is apparent that Europe is getting worse for individuals, entrepreneurs, and companies to live and work: less money is being earned, the standard of living is declining.”

After taking office on Tuesday, Liz Truss, who will succeed David Cameron as prime minister of the UK, has promised to unveil a strategy to reduce excessive energy costs.

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