Eastern European nations reacted with shock and anger to Russia’s decision to abandon South Stream , its $50bn gas pipeline across the Black Sea into Europe, as shares in some of the companies involved in the project dived. Bulgaria, Serbia and Hungary said they had received no advance warning that Moscow was scrapping South Stream, even though they all have substantial financial and political capital invested. Russia said it would export its gas to a trade hub in Turkey instead. Proposed South Stream pipeline route map South Stream is so far the biggest casualty of the stand-off between Russia and Europe over Moscow’s military involvement in Ukraine . The much-vaunted project, backed by Russia’s state-controlled gas group Gazprom , was designed to bring Russian gas into Europe by bypassing Ukraine. It gained momentum after a series of price disputes between Moscow and Kiev over the past decade led to […]