- Russia said Thursday it wouldn't cut off additional European countries from its gas supply.
- The Kremlin recently cut off Bulgaria, Finland and Poland for not paying in rubles.
- Russia has sought alternative buyers in light of sanctions from the US and EU.
Russia said Thursday it wouldn't cut off more European countries from its gas supply, Reuters first reported.
The announcement comes after Gazprom, Russia's state-run oil producer, stopped flows to countries including Bulgaria, Finland, and Poland in April over a refusal to make payment in rubles. The move from Moscow was largely in response to US and EU sanctions after Russia invaded Ukraine.
Some countries feel that Russia is wielding its gas supply as a weapon in response to Europe's support of Ukraine's defense effort. The International Energy Agency warned Wednesday that Europe may need to ration its energy in the coming months, with Austria and Germany also echoing concern over its energy.
The energy crisis stemming from Russia's invasion has spiraled into a global concern. As OPEC pledges to increase supply, experts say there isn't much that can be done to replace Russian crude oil in the open market. In the US and the UK surging oil has hit right as summer driving season kicks off, sending gas prices spiking to record highs in both countries.