One-month natural gas contracts in the Netherlands rose more than 30 percent on concerns that an energy crisis could occur after the sanctions against Russia.
Gas prices in Europe rise over the weekend on concerns that energy crisis may occur.
Europe imports almost a third of the gas it consumes from Russia, and a significant part of the imported gas is transferred via Ukraine. More sanctions could trigger Russia’s retaliation, experts say. This could hurt the energy supply to Western Europe.
Two More Countries Join Swift Sanction Against Russia
Japanese Prime Minister Fumio Kishida has said his government will block Russia’s access to its international payments network. With the participation of Japan, all of the G-7 countries joined the swift ban against Russia.
Prime Minister Kishida stated that Japan is also planning other sanctions against Russia and sending $100 million of extraordinary humanitarian aid to Ukraine.
Along with Japan, South Korea also took the step of sanctions against Russia. South Korea’s Ministry of Foreign Affairs stated that the Swift sanction will be put into effect along with export controls against Russia.