The Latest Breaking News from Gazprom

Industry to feel pinch first after all countries in bloc except Hungary agreed to voluntary reduction

European Union countries bracing for further cuts in Russian gas supply on Tuesday approved a weakened emergency plan to curb demand, after striking compromise deals to limit reductions for some countries.

The EU reached a draft agreement on Tuesday for member states to voluntarily reduce gas consumption by 15 percent from August to March. The burden will fall unevenly given that some countries are more dependent than others on Russian gas. But beyond what's in the text, analysts say that countries…

Gas flows via the pipeline are being halted in what EU officials say is a ‘politically motivated’ move by Moscow.

The Kremlin is likely to keep vital gas flows to Europe at minimal levels as long as the standoff over Ukraine continues, ratcheting up the pressure on the European Union over its tough stance on Russia’s invasion, according to people familiar with the leadership’s thinking.

"Today, the E.U. has taken a decisive step to face down the threat of a full gas disruption by Putin."

Despite most energy ministers backing the scheme the EU was forced to water down proposals

Deal reached hours after Moscow further slashed energy supplies to continent

Analysis: Southern European countries were unwilling to sign up to homogenous 15% cut in gas

Member states are looking to mitigate the effect of a Russian squeeze on gas flows before the winter season.

Russian gas giant Gazprom's announcement that it will further slash deliveries to Europe this week is politically motivated, European Union energy policy chief Kadri Simson said on Tuesday, disputing the company's claim that it had cut supply because it needed to halt the operation of a turbine. "We know that…