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Energy crunch threatens to shatter European unity, warns IEA boss

Financial Times LogoFinancial Times1w ago

Energy crunch threatens to shatter European unity, warns IEA boss - Financial Times

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Russia would also struggle to maintain output as sanctions restricted its access to the western technology and capital it needed to continue repairing ageing oilfields and gasfields, Birol said.

But the mounting crisis has prompted fears that some countries may cut side deals for Russian supply or restrict power exports to their neighbours.

There were “two scenarios”, said Birol, whose Paris-based watchdog agency is mainly funded by members of the OECD.“EU and members will work in solidarity, supporting each other . . .or there is another scenario, if everybody is for himself.“One of the founding values of the EU is solidarity.


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Article Details

Author / Journalist: Derek Brower

Category: MarketsFinanceInvesting

Topics: Countries Europe Birol Neighbours Winter Energy Financial European Continent Exports Other

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-22, 20:58:32

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 4 minutes read

Article Length: 670 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 478436

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 19 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 12h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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