Russia blames oil leak for closure of European gas line

The flow of gas through Nord Stream had already been reduced to a relative trickle. Now, once again, it has been halted completely.

An oil leak, claims Gazprom - which has previously attributed reduced flows through the pipeline to technical issues related to sanctions.

Europe, though, believes President Putin is weaponising gas supplies - deliberately limiting flows through the pipeline to push up prices, in order to test the resolve of Russia’s critics.

The result, as we’ve already seen, is soaring energy costs - with businesses and consumers paying a heavy price.

The timing of Gazprom’s move is certainly interesting. It came just after the G7 announced moves to cap the price of Russia’s oil exports.