Europe is Highly Dependent on Russian Gas

The United States is increasing pressure on European leaders to impose further sanctions on Russia in the wake of the downing of Malaysia Airlines flight MH17. Russia accounts for 30 percent of all EU gas and it could retaliate by restricting supplies. Europe is highly dependent on Russian gas but interestingly, it will be braced for any possible crisis. A warm winter has left inventories high and there are surging global supplies of liquified natural gas. Furthermore, most analysts believe Russia is unlikely to restrict gas supplies as it could force Europe to permanently switch to other sources.