The European Energy Crisis Is Getting Even More Dreadful

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Russia has significantly cut down the supply of gas assending to several countries. Flows through the main pipe line, nord stream, or down 60 % in recent days. Politicians say it's a political move and retribution for supporting ukrane in the war that's going on there. Now, germany's deputy chancellor is pleading with residents to cut back energy usage.

Stocks fall following rate rises in the US, UK and Switzerland and Russia restricts gas flow to Germany, and Covid hospitalisations are up in Europe.

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Mentioned in this podcast:

Wall Street stocks tumble as UK and Switzerland follow Fed with rate rises

Germans told to conserve energy as Russia cuts gas flows to Europe

Covid hospitalisations rise in Europe as sub-variants fuel new wave

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

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