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Europe can breathe a sigh of relief — for now.
Russia restarted natural gas deliveries along the Nord Stream 1 pipeline on Thursday, allaying fears that it would keep the taps turned off. That would have plunged the bloc into an energy crisis — and several of its countries into a recession.
The pipeline, which delivered about 35% of Europe's total Russian gas imports last year, had been shut for 10 days for routine maintenance work.
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Officials had worried that Gazprom, Russia's state energy company, would use the opportunity to drastically cut its supply of gas to the bloc in retaliation for sanctions imposed on Moscow since its invasion of Ukraine in February.
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Europe's fears were well-founded. In recent weeks, Russia has stopped shipping gas to several European countries and energy companies over their refusal to meet its demands to pay in rubles.
But gas was flowing through Nord Stream 1 at 40% of its total capacity on Thursday morning, a spokesperson for the German government told CNN Business. That's the same level as before the pipeline shut for maintenance. The previous month, Russia had slashed deliveries by two-thirds, blaming the West for withholding vital turbines because of sanctions.
Europe can breathe a sigh of relief — for now.
Russia restarted natural gas deliveries along the Nord Stream 1 pipeline on Thursday, allaying fears that it would keep the taps turned off. That would have plunged the bloc into an energy crisis — and several of its countries into a recession.
The pipeline, which delivered about 35% of Europe's total Russian gas imports last year, had been shut for 10 days for routine maintenance work.
*
Officials had worried that Gazprom, Russia's state energy company, would use the opportunity to drastically cut its supply of gas to the bloc in retaliation for sanctions imposed on Moscow since its invasion of Ukraine in February.
*
Europe's fears were well-founded. In recent weeks, Russia has stopped shipping gas to several European countries and energy companies over their refusal to meet its demands to pay in rubles.
But gas was flowing through Nord Stream 1 at 40% of its total capacity on Thursday morning, a spokesperson for the German government told CNN Business. That's the same level as before the pipeline shut for maintenance. The previous month, Russia had slashed deliveries by two-thirds, blaming the West for withholding vital turbines because of sanctions.
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