A US official said Tuesday that there is an emergency plan for energy supplies in Europe in the light of the crisis with Russia.
The official said the economic sanctions package Washington is preparing to respond to any Russian invasion of Ukraine will include unprecedented restrictions on exports of high-tech equipment.tech Americans.
“We are talking about advanced technology that we design and manufacture,” such as artificial intelligence, quantum computing and aviation technology, which “would severely affect the Russian president’s strategic ambitions to industrialize his economy,” the official added.
U.S. natural gas futures rose as production recovery remained sluggish after a cold spell, while European gas futures rose about 16%, due to tensions between Russia and Ukraine and fears that Russia it will cut off gas supplies to the rest of Europe.
Interestingly, global prices are around 6 times higher than contracts future US, with utility companies around the world fighting for LNG shipments to fill shortages in Europe and meet the demand in rapid growth in Asia.
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