• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026
FinanceRussia
Europe

Russia’s Gazprom threatens to cut last remaining supply of natural gas to Europe

By
Stephen McGrath
Stephen McGrath
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Stephen McGrath
Stephen McGrath
and
The Associated Press
The Associated Press
Down Arrow Button Icon
November 22, 2022, 2:17 PM ET
Vladimir Putin
Russian President Vladimir Putin.Sergei Bobylyov—SPUTNIK/AFP/Getty Images
Add Fortune on Google for similar content.

Russian energy giant Gazprom has threatened to reduce natural gas supplies through the last pipeline heading to Europe via Ukraine, saying the amount it’s supplying for Moldova is not ending up in the former Soviet republic.

Gazprom says the gas company of Europe’s poorest country, Moldovagaz, paid for part of its November flows of gas under its contract. It added that nearly 25 million cubic meters has been supplied this month but not paid for.

The Russian state-owned company tweeted that if “the imbalance observed during the transit of gas to the Moldovan consumers across Ukraine continues,” Gazprom “will start reducing its gas supplies” through Ukraine starting Monday.

Both Moldova and Ukraine hit back at Gazprom, with Ukraine saying all supplies that Russia sent through the country were “fully transferred” to Moldova.

“This is not the first time that Russia resorts to using gas as a tool of political pressure. This is a gross manipulation of facts in order to justify the decision to further limit the volume of gas supplies to European countries,” said Olha Belkova of the Gas Transmission System Operator of Ukraine.

It’s the latest escalation after Russia has cut off most natural gas flows to Europe amid the war in Ukraine, which European leaders have called energy blackmail and Gazprom has blamed on maintenance and payment issues. Besides the pipeline through Ukraine, one other pipeline is still bringing Russian gas beneath the Black Sea to Turkey.

Heading into winter when natural gas is needed to heat homes as well as generate electricity and power factories, any reductions in supplies could mean higher prices, which have been fueling inflation and squeezing households and businesses. Natural gas prices have fallen since August peaks and European nations have been able to fill their storage capacity for winter, but the crunch could worsen if the weather turns out to be colder than normal.

The energy crisis has hit Moldova especially hard, with Russia halving its natural gas supply and Moscow’s attacks on Ukraine’s energy infrastructure triggering massive blackouts in several cities in the former Soviet republic.

Moldova relied heavily on Russian energy before the war and its Soviet-era energy systems remain interconnected with Ukraine, which is why the missile barrages set off the automatic shutdown of a supply line and caused the lights to go out temporarily.

With energy prices and inflation already high, the threat of a loss of further energy supplies to Moldova could leave consumers scrambling to pay their bills in the country of about 2.6 million.

Simone Tagliapietra, an energy policy expert at the Bruegel think tank in Brussels, pointed to a recent meeting between Moldovan President Maia Sandu and European Commission President Ursula von der Leyen about energy assistance, noting that leaders who visited Kyiv earlier in the war to show their support had their gas cut off subsequently.

“Maybe they are following the same plot,” Tagliapietra said of Russia. “It looks like an act of despair for them. They are running out of energy weapons.”

He said one motive could be to put pressure on the EU by forcing it to drum up financial support for Moldova.

An international aid conference in Paris co-chaired by France, Germany and Romania raised more than 100 million euros ($102 million) on Monday to support Moldova. Earlier this month, the European Union also pledged the country 250 million euros (nearly $256 million) in aid.

Moldova’s office of reintegration policies said in a statement that the energy crisis in the country — including Transnistria, a Russia-backed breakaway region — “was not caused by Chisinau, but by the unjustified decisions of the Russian company Gazprom.”

Moldova’s statement was a response to accusations Tuesday by Transnistria, in which de-facto authorities alleged in a letter addressed to the United Nations and the Organization for Security and Co-operation in Europe that Moldova’s pro-Western leaders are responsible for energy shortages in the breakaway state.

“The only solution for overcoming the crisis is the resumption of the supply of natural gas by Gazprom in the quantities provided by the contract in force,” Moldova’s statement read, adding that Transnistria’s accusations were designed “to mislead public opinion and external partners.”

“Possibly preparing the ground for a new challenge, which could endanger the fragile stability which we have managed to maintain until now.”

Moldova became a candidate for EU membership in June, the same day as Ukraine.

Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today's executives—and how they can best navigate those challenges. Subscribe here.

About the Authors
By Stephen McGrath
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current refi mortgage rates report for June 24, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Current ARM mortgage rates report for June 24, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Now she’s worth $200 million. But Sarah Jessica Parker says being ‘one of eight kids that struggled financially’ growing up created her work ethic
SuccessCareer Advice
Now she’s worth $200 million. But Sarah Jessica Parker says being ‘one of eight kids that struggled financially’ growing up created her work ethic
By Orianna Rosa RoyleJune 24, 2026
3 hours ago
Mortgage rates today, June 24, 2026
Personal Financemortgages
Mortgage rates today, June 24, 2026
By Glen Luke FlanaganJune 24, 2026
3 hours ago
Trump, Rubio, and Hegseth sit next to each other at a dark wooden table.
EconomyIran
The Pentagon said Iran War costs $29 billion,but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
3 hours ago
MSCI delays Indonesia’s market status review until November
AsiaIndonesia
MSCI delays Indonesia’s market status review until November
By Prima Wirayani, Bernadette Toh and BloombergJune 23, 2026
7 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
22 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
24 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
21 hours ago
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
Investing
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
By Nick LichtenbergJune 22, 2026
2 days ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.