US pledges support to European countries coping with rising energy prices and ‘standing up’ against market players
US vows to back European countries to blame for rising energy prices to Russia
- US Secretary of Energy promised America would ‘stand up’ against market players
- This is because the blame for the crisis has shifted to supply constraints from Russia
- Russia is the largest gas supplier to Europe, accounting for 40% of imports
The US vowed yesterday to lend support to European countries suffering from rising energy prices as blame for the crisis shifted to supply restrictions from Russia.
US Secretary of Energy Jennifer Granholm said America would “stand up” against market players who “manipulate the supply to take advantage of it.”
She said: ‘We all want to keep an eye on the issue of any manipulation of gas prices by hoarding or not producing enough supply.’
US Secretary of Energy Jennifer Granholm (pictured) vowed America would ‘stand up’ to market players who ‘manipulate the supply to take advantage of it’
During a visit to Warsaw, she emphasized: ‘We are united with our European allies to ensure you have adequate, affordable gas supplies this winter.’
Fears of an energy crisis across Europe have been fueled by measures taken by Russian gas giant Gazprom to curtail supplies.
These movements, combined with low inventories, have pushed natural gas prices up in recent months.
Russia is the largest supplier of gas to Europe, accounting for 40 percent of imports – a fact that has led to calls for less reliance on Russian energy.
Earlier this week, the International Energy Agency called on Russia to “do more to increase gas availability to Europe.”
This comes as blame for the energy crisis which has shifted to supply restrictions from Russia following measures taken by Russian gas giant Gazprom (logo pictured) to restrict supplies