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How Europe Is Muddling Through Putin’s Energy War

Bloomberg · Lars Paulsson · last updated

If Vladimir Putin intended to paralyze Europe’s energy system by slashing exports of Russian gas to the continent, it hasn’t worked for now. The doomsday scenario of rolling blackouts failed to materialize thanks to an unusually mild winter, power rationing a…

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Related Knowledge Center: Energy security and pricing

State of Play

The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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