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Vladimir Putin threatens to let Europe ‘freeze’ by chopping power provides if value caps are imposed.
An all-out power warfare between Russia and the West threatens to deepen Europe’s power disaster, placing stress on governments to make interventions within the power market to rein in hovering costs.
Nevertheless it additionally places the Kremlin’s revenues in danger and is supposed to stem the movement of funds into its warfare coffers.
Moscow’s earnings from power exports are anticipated to rise by 38 % this 12 months. Western capitals say they wish to minimize off that monetary lifeline. The G7 have agreed to cap the worth of Russian oil, and the European Union plans a cap on Russian fuel costs, too.
In response, the Russian president stated he’ll “freeze” European nations if the worth caps are imposed.
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