Skyrocketing Energy Prices Hit as EU Debates Gas Price Cap

Skyrocketing Energy Prices Hit as EU Debates Gas Price Cap
Pipes at the landfall facilities of the Nord Stream 1 gas pipeline are pictured in Lubmin, Germany, on Mar. 8, 2022. Reuters/Hannibal Hanschke/File Photo
Bryan Jung
Updated:

Soaring energy costs continue to hit Europe hard this week, as governments in the region are struggling to contend with the rising cost of energy, after Russian gas was drastically cut earlier this month.

Russia cut natural gas and oil exports to Europe after the European Union, the United Kingdom, and the United States placed sanctions on Russia for its invasion of Ukraine.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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