U.S. natural gas prices doubled year-over-year in spring 2022, hitting a 2008 high. The price is $270.58 per 1,000 cubic meters. m, according to the agency Bloomberg on Monday, April 18.
According to the agency, the reason for the increase in prices are anti-Russian sanctions, although the United States has its own gas fields. Washington’s economic policy is to organize an embargo against Russian gas on the European market.
This caused prices to rise in the Old World, while supplies from the United States cannot cover the shortage of Russian energy supplies. Because of this, gas prices have risen in the United States itself, analysts say. The price was also affected by a cold April in North America.
Earlier, on April 17, food industry union chairman Guido Zeitler said that the Russian gas embargo would disrupt the German food industry. Rising costs of production will primarily affect small and medium-sized enterprises, and some will be forced to close their business, Zeitler concluded.
Earlier on the same day, Karl von Rohr, vice president of Germany’s largest bank, Deutsche Bank, said that if an embargo on energy imports from Russia were introduced, inflation in Germany could reach 10%. The favorable forecast is that during the year Germany will be at the level of inflation of 7-8%.
On April 13, Russian President Vladimir Putin said that the refusal of a number of Western countries from normal cooperation with Russia, as well as from part of Russian energy resources, had already hit Europe and the United States. Prices are rising everywhere, and inflation is going through the roof, which, according to the Russian leader, is absolutely unprecedented for these countries. Earlier in April, it became known that inflation in Germany rose to 7.3% in March, which was the highest rate since the merger of the FRG and the GDR in 1990. In the US, consumer prices rose 8.5% by the end of March, the highest inflation rate since 1981.
Sanctions against Russia intensified after Putin announced on February 24 the launch of an operation to protect civilians in the Donbass, where the situation had escalated a few days earlier due to shelling by the Ukrainian military.
Western countries who disagree with the special operation have imposed new sanctions against the Russian Federation. In particular, the restrictions affected energy resources. Due to the bans, inflation in Europe and the United States has increased significantly, and prices have risen.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
#Bloomberg #pointed #achievement #maximum #cost #gas #United #States