Natural gas prices rose Friday after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies. The move doesn't immediately block large amounts of natural gas to Europe but intensifies fears that the war in Ukraine will lead to wide-ranging cutoffs.
Gazprom said Thursday that it would ban the use of the Yamal pipeline that reaches Germany through Poland. While that cuts off a supply route to Europe, the pipeline's entry point to Germany has not been used in recent months. Plus, Gazprom has already cut off gas to Poland for refusing to meet Moscow's demand to make payments in rubles.
