The European gas crisis can yet bite Russia, President Vladimir Putin said on Wednesday, should soaring prices feed into inflation, further boosting the cost of essentials such as food, or reduce demand for the fuel which is a key source of state revenue. Spot European gas prices have risen fivefold since the start of the year with global demand outstripping supply as economies recover from pandemic-induced slowdowns. That has prompted some electricity generators to switch to burning coal, despite higher harmful carbon dioxide emissions. read more “This has certain consequences for us, too,” Putin told senior government officials. “If there is a fall in demand…this would affect our producing companies including Gazprom.” Gazprom, the sole gas pipeline exporter […]