Economist states that the EU itself gives reasons for the increase in the cost of gas on the exchange

03.01.2022, Moscow.

Gas prices in Europe are inflated by speculators reacting to controversial statements by politicians, expert of the National Energy Security Fund Stanislav Mitrakhovich said, news portal reported on January 3.

He stated that Brussels bureaucrats would have to admit their mistakes instead of persisting in regulating energy markets. As an example, he cited the recent proposal of the European Commission to ban long-term contracts for gas supplies from 2050.

Mitrakhovich stressed that speculators respond to such statements and drive up prices on stock exchanges.

In addition, the statements of new German ministers poured fuel on the fire. “One minister comes out and says he supports the project, but then the foreign minister and the minister of economy and energy come out and say the project is not necessary,” the expert said.

He stressed that speculators naturally react to such statements by sharply raising prices.

Over the last few months, the price of gas on the European stock markets has increased dramatically. The cost of the futures on 1000 cubic meters of gas has exceeded $2000.

Source: Rossa Primavera News Agency

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