Surging energy prices are wreaking havoc on the budgets of countries that make up the European Union (EU), with the impact of subsidy programmes intended to keep fossil fuels affordable blunted by skyrocketing international market rates.
Europe united to impose punishing sanctions on much of Russia's economy in the wake of the Feb 24 invasion of Ukraine, but with the conspicuous omission of the energy sector.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
