Economy · 1 d ago
US pushes to restart Russian gas flows to Europe through Ukraine, reports say
Background
According to reports, US envoys Steve Witkoff and Jared Kushner presented the idea in Moscow and Kyiv as an energy truce before winter and a step toward peace talks.
The reported plan
- Gas sold through a US intermediary
- Russian revenue held in escrow abroad
- Transit restarted before peak winter cold
- Possible restart of Nord Stream
Under the reported plan, Russian gas would be sold through a US intermediary to get around European restrictions, with Russia's revenue held in escrow accounts in third countries.
Washington
Restart gas before winter
Brussels
No Russian energy after 2027
Brussels and other European capitals resist the idea, and the EU points to its law to end all imports of Russian energy by the end of 2027.
European gas price, highest since 2022
100 euros per MWh
European gas prices topped 100 euros a megawatt-hour for the first time since late 2022, and German storage is only a little over 60 per cent full.
