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Russia needs European cash more than Europe needs Russian gas

Soaring gas prices suggest Russia has Europe over a barrel, but it’s a tenuous scenario that could backfire on Moscow

24 February 2022 - 20:08 By David Fickling

Overplaying your hand in energy markets rarely ends well. When Arab members of Opec announced an oil embargo as a result of the 1973 October war, importing countries raced to develop domestic oilfields and alternative energy sources, resulting in the most drastic decline in oil consumption the world has ever seen...

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